European hotel chain heads to Manhattan

Wyndham-owned hotel chain TRYP is to open a property in New York, the firm confirmed October 21, marking its first expansion into North America.

TRYP, which is predominantly present in several European cities such as Paris, Lisbon, Frankfurt and Madrid, is the latest chain to announce a new property in Manhattan.

This year has already seen the opening of the InterContinental Times Square, two new properties from Andaz, the W New York Downtown, Fashion 26, The Chatwal, The James and a number of smaller properties in New York.

The 173-room TRYP New York City - Times Square South will feature complimentary fitness kits in the gyms, bunk beds in the family rooms and an "open, social" environment in the lobby.

It is expected to be completed by the second quarter of 2011 and will be targeted at both business and leisure travelers, with mid-range prices expected to be lower than several of the other new hotels in the city.

Unfortunately, all these hotels aren't doing much for the average nightly rate in Manhattan - rates in August this year we up seven percent on the same period in 2009 at $208 (€148) a night, according to a recent report in the Wall Street Journal.

http://www.wyndhamworldwide.com

http://online.wsj.com/article/SB10001424052748704300604575554193765198142.html

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