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Westgate Resorts Plants Flag in Manhattan
Westgate Resorts has acquired the former Hilton New York Grand Central, a 23-story, 300-key, two-tower hotel at 304 E. 42nd St. Deal terms were not disclosed. It’s the first New York property for Orlando-based Westgate, which has rebranded it as Westgate New York City.
David Siegel, Westgate’s founder & CEO, said the acquisition “puts the Westgate flag proudly in the heart of one of the most visited cities in the world, located on East 42nd Street, only a few blocks from Times Square, the United Nations and Grand Central Terminal.” The property opened in 1931 as the Hotel Tudor.
Westgate will continue to operate the property as a hotel, while it undergoes an extensive renovation. Founded three decades ago as a timeshare operator that more recently has branched out into hotels, Westgate will explore opportunities in the future to add timeshare villas to the Midtown property.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
