New York City's landmark Essex House hotel on Central Park South will again be under the Marriott umbrella, according to statements from Marriott and Strategic Hotels.
Strategic Hotels out of Chicago is purchasing the 160 Central Park South hotel and hiring Marriott to operate it; Marriott International owned and operated the property from 1969 to 1985.
Strategic is purchasing the hotel from Dubai Investment Group for $362.3 million. The price includes the 509 hotel rooms and nine condominium units, plus cash reserves. It's currently run as the Jumeirah Essex House. The property is slated to be re-named the JW Marriott Essex House New York following the anticipated close of the sale in early September.
A revamp to the tune of about $18 million is expected once the sale becomes final.