DESCRIPTION:

Construction of this 172-room Spring Hill Suites by Marriott – Manhattan Fifth Avenue hotel is anticipated to commence in April 2011. The proposed 18-story Hotel is located in the heart of New York City and is being developed in conjunction with Hidrock Partners.  This Midtown Manhattan hotel will be a great option for family vacations, business travelers and small groups.  Within walking distance, the following Midtown attractions can be found: New York University, luxury shopping on 5th Avenue, exciting attractions and restaurants in Times Square (42nd Street), Broadway theaters, Bryant Park, the Empire State Building, Rockefeller Center and Central Park. We are located just a few minutes from Port Authority Bus Terminal, Penn Station and Grand Central Station.
The 3 major New York metropolitan airports in proximity to the planned hotel are – Newark Liberty International Airport (14 miles), LaGuardia International Airport (9 miles) and John F. Kennedy International Airport (16 miles), which combined to serve approximately 22.50 million passengers from January through March 2010.

The Company believes that the construction, development and operation of the Hotel represents an excellent opportunity to add quality hotel accommodations to the flourishing Midtown Manhattan fashion district area of New York City where the demand for high-quality branded lodging facilities is expected to be strong.