NYLO Is Finally Making A Move In NYC
We've been hearing for a while about a potential NYLO hotel opening in NYC. Which would be completely fitting, considering the brand is named after, you guessed it, New York.
However, despite operating three hotels in Texas, and another in Warwick, RI, there's never been an actual NYC location.
Last we heard, NYLO Manhattan was slated for a downtown location, near South Street Seaport—which would have made for interesting competition with other FiDi hotels like Andaz Wall St, Gild Hall and Conrad New York.
But as it turns out, NYLO New York will actually be making itself at home on the Upper West Side. According to CP Executive, the brand has decided to take over a previously-existing property by the name of On the Ave Hotel, which has 282 rooms and is housed in a historic century-old building on Broadway.
Benefitting from a reported $80 million refinancing, the hotel will begin renovations this month, and once everything is tip top, the NYLO flag will officially be flown.
CP Executive makes a solid case for why NYLO would choose a place like this when making its big Manhattan debut:
"Talk about low risk, the boutique hotel has the right numbers. Its occupancy level didn’t waver during the recession, having held in the 95 percent range for the last five years. And then there’s the New York City address. "
Furthermore, from a tipster, we've learned that Stonehill & Taylor (Crosby Street Hotel, The Surrey, The NoMad, and the upcoming The Refinery) will be working on the design. Not a bad portfolio at all--this certainly bodes well, we must say!
[Photo: On The Ave Hotel]