News Summary
Highgate has teamed up with Gencom to acquire the InterContinental New York Times Square, signaling a rebound in New York’s hotel market after pandemic-related challenges. With 607 rooms in a prime location, the hotel is poised to attract both business and leisure travelers. This acquisition reflects renewed investor confidence in the hospitality sector, marked by increasing hotel deals and strategic partnerships as travel begins to recover significantly.
New York – Highgate, a key player in the New York hotel market, has partnered with Gencom, a prominent luxury hotel owner, to acquire the InterContinental New York Times Square. This transaction indicates a growing recovery in the hotel sector, which has faced significant challenges since the onset of the pandemic.
Details surrounding the deal, which is reportedly nearing completion, suggest that the InterContinental New York Times Square, currently owned by Tishman Realty and others, is set for a change in ownership as the hospitality industry begins to rebound from its previously stagnant dealings. The hotel boasts 607 rooms and is strategically located in Midtown Manhattan, just steps away from major tourist attractions such as Broadway and Central Park. This location makes it a prime choice for both business and leisure travelers.
The average cash rate for accommodations during the peak summer months at the InterContinental Times Square can range from approximately $400 to over $700 per night, reflecting its status as a luxury establishment. The property is well-regarded for its array of luxurious amenities, further enhancing its appeal to visitors in one of the world’s most vibrant cities.
The hotel investment landscape has seen significant shifts in recent years, with many opportunities frozen amid the pandemic’s impacts. However, as the market stabilizes, investor interest is beginning to return, sparking renewed activity in hotel acquisitions. This partnership between Highgate and Gencom is a testament to the confidence in the industry’s recovery.
A recent development in the hotel rewards sector has also played a role in attracting travelers. The IHG One Rewards Premier Credit Card has introduced a lucrative welcome bonus that allows new applicants to earn up to five free nights (equivalent to 60,000 points each) after spending $5,000 within the first three months. Given that the points are valued at approximately 0.5 cents each, this offer can potentially save customers up to $1,500 on hotel stays.
However, it is essential to note that the redemption strategies for these free night certificates require careful consideration. They cannot be combined with additional points or cash for a single stay, making it crucial for prospective cardholders to plan their bookings accordingly.
The resurgence in the hotel industry is not just limited to high-profile deals but is also reflected in individual travel plans. A case study illustrates how a family can maximize savings on hotel stays by utilizing rewards earned through their IHG credit card while booking in high-demand locations like New York City.
This acquisition highlights the evolving dynamics of the hotel market as stakeholders adapt to economic recovery efforts in a post-pandemic world. Strategic partnerships such as that of Highgate and Gencom are instrumental in navigating the challenges and opportunities within the hospitality industry. As consumer confidence grows and travel begins to return to pre-pandemic levels, properties like the InterContinental New York Times Square are expected to benefit significantly from an influx of travelers eager to experience the bustling vibrance of New York City.
Deeper Dive: News & Info About This Topic
- Hotel Investment Today
- Wikipedia: InterContinental New York Times Square
- Crain’s New York
- Google Search: hotel industry recovery 2025
- Upgraded Points
- Encyclopedia Britannica: Hotel
Author: STAFF HERE ORLANDO WRITER
ORLANDO STAFF WRITER The ORLANDO STAFF WRITER represents the experienced team at HEREOrlando.com, your go-to source for actionable local news and information in Orlando, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Orlando International Fringe Theatre Festival, Megacon Orlando, and Central Florida Fair. Our coverage extends to key organizations like the Orlando Economic Partnership and Hispanic Chamber of Commerce Metro Orlando, plus leading businesses in leisure and hospitality that power the local economy such as Walt Disney World Resort, AdventHealth, and Universal Orlando. As part of the broader HERE network, including HEREJacksonville.com, HEREPetersburg.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
