As­cott makes third ac­qui­si­tion in New York

Travel Daily ME - - News -

Sin­ga­pore's As­cott Res­i­dence Trust has ac­quir­ing the 224-unit Dou­bleTree by Hil­ton Ho­tel New York Times Square South for US$106 mil­lion. The free­hold prop­erty, which is lo­cated near Times Square, marks the com­pany's third ac­qui­si­tion in New York in the last two years, fol­low­ing ear­lier deals for the Sher­a­ton Tribeca New York and El­e­ment New York Times Square West ho­tels. The Dou­bleTree will con­tinue op­er­at­ing un­der its ex­ist­ing brand.

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