Admission for two to Conde Nast Traveler’s 25 th Anniversary Visionaries Gala and reception including food and beverages - Accommodation for two nights at the Mandarin Oriental New York in a standard room -Pre-event hair staying and makeup service for two at Warren-Tricomi Salon -Ground transportation between the Mandarin Oriental and the gala -A $150 gift card to The Palm steakhouse for lunch -A $250 gift card to Marea for dinner for twoĪlthough I was looking forward to the Gala and the meals, the best value I got from this package was my two-night stay at the Mandarin Oriental, since the rate of the room I stayed in was over $1,100 a night (they accidentally told me the room rate when I checked in, not realizing Chase was picking up the tab as part of the package). It will remain the Mandarin Oriental” thanks to the long-term contract - and because the company needs to be in Manhattan.The letter I received from Chase Sapphire outlining all the included benefits after purchasing the package.Īs you can see in the letter above, my package included: “Every single hotel went from a cash-flow crisis to a liquidity crisis to a solvency crisis,” he said.The better news, Dandapani said, was that whoever a new owner might be, “The Mandarin Oriental is not going anywhere. But he cast the Mandarin Oriental offering in the context of the overall hotel situation, which he described as “bleak.” Hotel Association of New York president Vijay Dandapani, noting that “foreign owners have their own issues” beyond the situation in New York, wouldn’t speculate on a possible price. Liam Neeson and Lucy Liu are among regular guests. The hotel occupies floors 35-54 and is known for its much-in-demand ballroom, five-star spa and eating and drinking venues including MO Lounge. The glamorous property was valued at $340 million in 2007. The hotel itself is a separately owned condo unit within the mixed-use, twin-towered skyscraper that was developed by Related Companies.Īn investment-sale source who is not involved at the Mandarin Oriental speculated that in today’s distressed market, a sale could fetch as little as $100 million (THPT….unlikely!). The MOHG also provides hotel services to 65 condo apartments in the north tower of Deutsche Bank Center, which was previously known as Time Warner Center. A hotel rep confirmed its ownership structure but didn’t comment on the sale offering. The hush-hush offering is being handled by JLL. Mandarin Oriental Hotel Group (MOHG), which owns some but not all of the hotels bearing the Mandarin Oriental flag, has a 25 percent interest and manages the Manhattan property under a long-term contract. The property is owned by an entity known as IW Columbus Center LLP, of which an Investment Corporation of Dubai subsidiary is the majority partner. The offering for the 248-rooms-and-suites hotel towering over Central Park comes as the state of the city’s hotel industry has been likened to a “depression” by the American Hotel and Lodging Association.Īlthough the Mandarin Oriental reopened on April 1, it’s been staggered like other leading hotels by the lack of high-spending visitors and business travellers from abroad. The Mandarin Oriental Hotel at Columbus Circle, one of the city’s premier luxury lodging establishments, is quietly up for sale, according to the New York Post. Guide Price: Anyone’s guess! The property was valued at US$340 in 2007….Could be as low as $200m+ in this market Location: Columbus Circle, New York, NY, USA
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