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Marriott Offshoot to Buy Strand Hotel in N.Y.

NEW YORK

Marriott Vacations Worldwide announced it has taken over management of The Strand Hotel in New York City. Subject to certain conditions being met, Marriott Vacations Worldwide has also agreed to a capital efficient purchase of the 176-room hotel in phases over time, beginning in 2018.

Marriott Vacations Worldwide anticipates that it will rebrand The Strand as a Marriott Vacation Club in early March 2016 and will begin welcoming Marriott Vacation Club Owners.

Reservations for owner usage through the Marriott Vacation Club exchange program will be offered as early as mid-February 2016 for arrivals beginning in early March 2016.

In addition to its Midtown Manhattan location, The Strand also offers various on-site amenities, including The Strand Bistro, an intimate New York dining experience, and a rooftop lounge, The Top of The Strand. Named "New York City's Best Year-Round Rooftop Bar" by New York Magazine, The Top of The Strand features a retractable glass enclosed roof overlooking the Empire State Building.

The Strand Hotel currently offers 2,500 square feet of event space for up to 200 attendees.