Schrager's Public to Open in NYC
US newspaper The Wall Street Journal has reported that hotelier Ian Schrager will open a new hotel under his latest brand, Public, in New York in 2014. The budget brand’s debut hotel opened in Chicago this October.
The hotelier has teamed up with New York developer Douglas Durst to create a 250-room hotel in the lower 16 floors of a 56-storey residential building in Manhattan’s Herald Square. Rates are expected to start at $300 (£191) a night.
Meanwhile, the hotelier’s troubled Edition brand, developed with Marriott – which had its debut property, Waikiki Edition, reclaimed by its owners – has posed plans to open in New York’s Madison Avenue Clock Tower.
With the number of hotel rooms increasing by almost 24% in the past three years, according to the New York Times, growth – particularly in terms of budget and boutique accommodation – certainly seems to show no sign of slowdown over the next few years.