Located at the intersection of the Bowery and Grand Street, theeight-story Best Western has amenities including a complimentarycontinental breakfast, an exercise facility and a business center.Guestrooms feature high-speed Internet access. "New York is acritically important US market, and we continue to expand ourpresence there," says Thomas Hewitt, CEO at Interstate. "The BestWestern is our first hotel on the vibrant Lower East Side and ourfirst project with Ben Wong, a well respected and progressiveentrepreneur. Our management pipeline remains quite active, withcurrent owners being an important source of new business."

Leslie Ng, CIO of the firm, says that the "growing New Yorkportfolio also includes five hotels that we operate elsewhere inthe state, bringing our total to 14 hotels statewide. This clusterstrategy allows us to take advantage of significant operatingsynergies and economies of scale. New York remains one of the mostrobust markets in the nation, and we continue to drive performancefor our owners."

According to Interstate's website, other Manhattan hotelsmanaged by the firm include: Wingate by Wyndham Manhattan Midtownat 235 W. 35th St.; Courtyard Times Square South at 114 W. 40thSt.; Comfort Inn Manhattan-Murray Hill at 42 W. 35th St.; theRoosevelt Hotel New York City at 45 E. 45th St.; Hilton TimesSquare at 234 W. 42nd St.; and the Residence Inn Times Square at1033 Avenue of the Americas.