Skip navigation

Thayer shells out pretty penny for Manhattan landmark hotel

NEW YORK — Annapolis, Md.-based Thayer Hotel Investors has purchased the RIHGA Royal New York Hotel, a 504-room, 54-story hotel in Manhattan, for $193 million. Hong Kong-based Regal Worldwide Holdings Ltd. was the seller. Washington, D.C.-based Marriott International Inc. will now manage the hotel, which will be renamed J.W. Marriott New York Hotel. Thayer will also undertake a $10 million renovation of the all-suite hotel.

The hotel marks Thayer’s entry into the New York hotel market. The company’s portfolio includes Marriott, DoubleTree, Embassy Suites, Sheraton, Courtyard, Residence Inn and Fairfield Inn properties.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.