NEW YORK, NY
Ian Schrager, the pioneer of the boutique-hotel concept, has announced plans to build and operate a hotel here that will come under his Public brand. The 250-room hotel, to be called Public New York, will be in the first 16 floors of a 56-story building just south of Herald Square.
Looking to take advantage of the econonic recovery getting underway, Schrager is focused on “gateway” cities, where he’s building less-expensive hotels. In fact, the developer’s company, Ian Schrager Co., bought two sites in New York City, he said last month. The second site, a 350-room property in lower Manhattan, will be used for another hotel under the new flag. It will open about the same time as Public New York.
“I’ve been in this business for more than 30 years, and I am more excited about the Public brand than about anything else I’ve ever done,” Schrager said. “I see the same opportunities we see in the select-service space but with luxury service. This is a wide open space.”
Ian Schrager Co. is looking at other metropolitan areas too, including Los Angeles and Paris. In October, it won a bid for a Crowne Plaza hotel in London, and it opened its first Public hotel in Chicago. The company plans to have about 20 locations within seven years, according to Schrager.
