FINANCIAL NEWS

Abu Dhabi Investment buys USD242m New York Edition hotel

08 Apr 2015

(MENAFN)The Abu Dhabi Investment Authority has finalized an agreement to purchase the USD243 million New York Edition hotel in Manhattan, Arabian Business reported.

The venue includes 273-room hotel and is situated at Five Madison Avenue in Manhattan from the Marriott International, New York’s Real Deal magazine said.

The purchase marks the fifth occasion in which Abu Dhabi Investment Authority buys from Marriott. In an association with Ian Schrager, Marriott International founded the the Edition hotel in 2011.

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