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Former 492-key Holiday Inn by IHG – Image Credit Hawkins Way Capital
Hawkins Way Capital has acquired a 492-key former Holiday Inn in Manhattan’s Financial District for strategic redevelopment.
Hawkins Way Capital has announced the acquisition of a former Holiday Inn located in Manhattan’s Financial District. The property, which comprises 492 keys, is poised for strategic repositioning as part of Hawkins Way Capital’s national portfolio expansion.
The hotel, which had paused its traditional operations during the COVID-19 pandemic, had previously been used as temporary housing. Hawkins Way Capital plans to redevelop the property with targeted renovations. These renovations will include cosmetic upgrades to all guestrooms and corridors. Additionally, the redevelopment will involve converting former hotel amenity areas into shared spaces. Planned shared spaces include a communal kitchen and dining area, laundry rooms, lounges, study spaces, and a fitness center.
The reimagined property is designed to accommodate approximately 650 beds. FCL Management will manage the property. FCL Management operates housing and hospitality assets across select U.S. markets, managing a total of 6,000 beds in its portfolio.
