Manhattan's Carlyle Hotel Moves to Investment Group for $130 Mil

NEW YORK CITY-The Carlyle Hotel, long a symbol of understated elegance,has been sold to Maritz, Wolff & Co., a private investment group thatowns 17 other luxury properties. Although such hotels as the FourSeasons and the Plaza receive more media coverage, the Carlyle is locatedaway from the mid-Manhattan hustle.

Maritz, Wolff is half owner of Rosewood Hotels and Resorts, aDallas-based management firm that operates luxury properties throughoutthe world, including the Hotel Seiyo Ginza in Tokyo and the Mansion onTurtle Creek, known as the meeting place for the Dallas business andsocial elite. The Carlyle will keep its storied name and be managed byRosewood. At $130 million, the price the Carlyle fetched is less thanthe $220 million contracted for the Rihga Royal, as published reports relate. But it compares favorably with the $750,000 per-room that the FourSeasons Hotel garnered in 1999. The Carlyle has some 250 rooms, whichcost an average of $300 per night. The Stanhope on E. 90th Street is theonly hotel in the area to compete on the luxury level in New York.

“We believe in smaller residential hotels,” Philip Maritz, president of the firm that bears his name, tells GlobeSt.com. “We purchased the hotel from Peter Sharp and the late Jerry Green, who owned 52% of the shares in the co-op that owned the Carlyle.”