new luxury new york? (wyndham)

[Kagehitokiri2]

http://therealdeal.com/blog/2013/02/01/alex-hotel-in-midtown-east-sells-for-115m/

203-room Alex Hotel, located at 205 East 45th Street, has sold to an affiliate of the Wyndham Hotel Group for $115 million

alex was a luxury apartment hotel

not sure what affiliate etc... or rezoning..

 

[simpsontruckdriver]

It sounds like it will stay in the Wyndham Grand Hotel side, not the Wyndham Vacation Ownership side. Although, it may do both, similar to the Wyndham Grand Hotel at Rio Grande PR, where you can rent a hotel room with timeshare points. It'll probably take a few months before we know where Wyndham Corporate puts the hotel.

TS

 

[Kagehitokiri2]

again apartment hotel with designer kitchens, 2BR units

http://www.thealexhotel.com/roomsuites.shtml

203 specially appointed guest rooms and suites with custom furnishings by David Rockwell, iBahn dedicated internet and wireless services, flat screen LCD TVs, Frette linens, two-line telephones, DVD & CD stereo systems, limestone baths and fully equipped gourmet Poggenpohl kitchens.

73 beautifully appointed classic guest rooms

130 exquisitely designed luxurious apartments
* 43 - Studio apartments with fully equipped gourmet kitchen
* 65 - 1 bedroom suites with fully equipped gourmet kitchen
* 22 - 2 bedroom/2 bath suites (bedrooms separated by living room)

A one-of-a-kind two-bedroom/two-bath penthouse suite with wraparound terrace featuring striking views of the East River, the Chrysler Building, and midtown Manhattan. The outdoor dining and lounging areas offer you the scenic beauty of the city from the privacy of your own terrace. The penthouse includes a large living area, a fully equipped Poggenpohl kitchen, a king size master bedroom and a spacious second bedroom. This unique space is also available for private meetings, receptions and dining events.

http://www.thealexhotel.com/residential_suites.shtml

Poggenpohl kitchens featuring:
* SubZero full-size refrigerator
* Gaggenau counter cook tops
* Miele dishwashers
* GE Advantium convection oven with built-in microwave
* Gourmet cooking accessories, house wares, and stemware

ah, very loose information so far

http://www.law360.com/articles/412446/wyndham-affiliate-puts-up-115m-for-nyc-s-alex-hotel

a person with knowledge of the deal confirmed...The Wyndham affiliate, whose name was not disclosed

 

[55plus]

We went to an owners update meeting at Emerald Grande in Destin last week and was told about the New York Property. The sales pitch is, if we every want to get in there we need to trade into CWAccess for 13 month ARP. I told the sales guy we have no desire to go to New York and then was told all future Wyndham Vacation Resorts will only be CWAccess, and not deeded. Also, all foreclosure deeds will convert to CWAccess.

I don't know how much truth there is to what we were told, but CWAccess to being pushed...

 

[alexinorlando]

It's True

Yes this is going to be a Wyndham Timeshare mixed use property. It was stated directly by one of the CEO'S in there last earning call along with some other interesting developments. Here is the link http://m.seekingalpha.com/article/1160521

 

[Kagehitokiri2]

Yes this is going to be a Wyndham Timeshare mixed use property. It was stated directly by one of the CEO'S in there last earning call along with some other interesting developments. Here is the link http://m.seekingalpha.com/article/1160521

February 06, 2013

The latest example of that transformation is the recent acquisition of The Alex Hotel on 45th Street in New York City by Guggenheim Partners. We will manage the hotel while we prepare to convert it to timeshare. As we are ready for the inventory, it will be delivered to us, and we will pay for it at that time. We are looking to expand this relationship to possibly have a partner purchase some of the existing unfinished inventory, which is on our balance sheet, which will then be finished and returned to us as needed.

Another great example of a creative application of our WAAM model is our recent deal with HPT for Hotel 71 in Chicago. This 350-room hotel will undergo a renovation and will be converted into a Wyndham Grand. A portion of the hotel will be converted to timeshare and leased to WVO for timeshare use.

go wyndham..

alex is even nicer than hilton @ trump vegas

 

[siesta]

I bet the point values will be higher than wyndham canterbury, but hopefully it wont be a 1-52 season, and they will actually split up the season.

 

[vacationhopeful]

I read some of the report without signing up -- Wyndham is ceasing the VIP Promotional package?

Is that where they give Bonus Points to a buyer to make them a temporary VIP (higher) level for 18-24 months?

 

[55plus]

At the Emerald Grande owners update I mentioned earlier in this post, the sales guy said VIP Platinum was going up to 1,300,000 points later this year. Already being VIP Platinum he then proceeded to push Presidential Reserve and said now is a good opportunity to move up for the benefits. I ended the push with, "we're happy where we are so no thanks."

 

[Sandy VDH]

At the Emerald Grande owners update I mentioned earlier in this post, the sales guy said VIP Platinum was going up to 1,300,000 points later this year. Already being VIP Platinum he then proceeded to push Presidential Reserve and said now is a good opportunity to move up for the benefits. I ended the push with, "we're happy where we are so no thanks."

I think that is moving plat to 1.3 is hogwash. If they were going to up the points they would have done it when the upped the other 2 levels. I can't image they would up it so soon after making changes to the other. Makes to sense to me.

 

[Don40]

Awesome property and location. If they keep buying properties when the prices are low it seems smart to me. The more locations we have to vacation the better our timeshare purchase becomes.

 

[Kagehitokiri2]

ritz carlton central park sold for even less
(although sold to "repeat" buyer/partner and not sure re mgmt contract and condo owners)

 

[am1]

I think that is moving plat to 1.3 is hogwash. If they were going to up the points they would have done it when the upped the other 2 levels. I can't image they would up it so soon after making changes to the other. Makes to sense to me.

1 million is really not enough points. If they got people to upgrade before in the increase the first time they will need to find a new way to increase sales now.

 

[Twinkstarr]

http://therealdeal.com/blog/2013/02/01/alex-hotel-in-midtown-east-sells-for-115m/



alex was a luxury apartment hotel

not sure what affiliate etc... or rezoning..

No news really if you read the Wyndham transcripts of the quarterly earnings reports. Hubby does and waits to see how long it takes someone on TUG to find out about them.

 

[Kagehitokiri2]

also re hotel 71, 39th floor penthouse event space was bruce wayne's condo in the film The Dark Knight
http://www.google.com/images?q=hote..._group&ei=6cxAUcGSB4602AXx94CwBA&ved=0CDMQsAQ

No news really if you read the Wyndham transcripts of the quarterly earnings reports. Hubby does and waits to see how long it takes someone on TUG to find out about them.

its only a month old
while we read financials, does everyone here?
did your husband know or look up alex when he saw it mentioned?

this is major bragging rights for wyndham

 

[pacodemountainside]

No news really if you read the Wyndham transcripts of the quarterly earnings reports. Hubby does and waits to see how long it takes someone on TUG to find out about them.

Just curious, why not take a couple minutes and pass on to fellow Tuggers?

 

[Kagehitokiri2]

Just curious, why not take a couple minutes and pass on to fellow Tuggers?

if husband did not look up alex site, would not have known about smaller size, quality, etc.

but if they were aware, then yeah i agree in this particular case, because its big news / coup / etc.

i was just looking at NYC real estate stuff, and saw this (month old) article. i knew the alex, so posted here.

 

[staceyeileen]

2013 sounds like it will be an exciting year.... can't complain about NY and Chicago!

 

[jjmanthei05]

I think that is moving plat to 1.3 is hogwash. If they were going to up the points they would have done it when the upped the other 2 levels. I can't image they would up it so soon after making changes to the other. Makes to sense to me.

I think if they were going to "up" platinum benefit points they would probably just create a "diamond" level or something along those lines. Then no one would be grandfathered and all the then created "lowly" platinum owners would have something to upgrade to.

Jason

 

[Cdn Gal]

We were just at an owners update and were told that the Alex was currently undergoing major renovations to accommodate kitchens. It is expected to be open sometime the year during the 'holidays' so I am thinking next Christmas perhaps?

 

[Twinkstarr]

if husband did not look up alex site, would not have known about smaller size, quality, etc.

but if they were aware, then yeah i agree in this particular case, because its big news / coup / etc.

i was just looking at NYC real estate stuff, and saw this (month old) article. i knew the alex, so posted here.

Yes, he looked up the site, because he asked me about the name of the kitchen cabinet brand(used to work in that industry).

Personally when he mentions the new resorts, I usually say that's nice and forget about it. About as far as I get is taking a quick glance at the resort listing then noticing a new resort, and then I get "I told you about that x months ago".

But he usually reads the transcrips of the quarterly earnings reports of all the hotel companies that are in the TS industry. Pays closer attention to the ones we own(Wyndham, Disney, Starwood). Over on the DIS boards, there is usually a lively thread about quarterly earnings re DVC and here Marriott & Starwood usually have a thread after earnings.

 

[cyseitz]

At the Emerald Grande owners update I mentioned earlier in this post, the sales guy said VIP Platinum was going up to 1,300,000 points later this year. Already being VIP Platinum he then proceeded to push Presidential Reserve and said now is a good opportunity to move up for the benefits. I ended the push with, "we're happy where we are so no thanks."

Are people who are already Platinum going to be grandfathered in? Also, do you know if they will be giving more benefits in the platinum program?