CorpHousing Group (CHG), the short-term rental company that embraced an asset-light expansion strategy of leasing hotels, has inked 15-year master-lease operation agreements with two New York City hotels in the past week.
CorpHousing announced a 15-year deal for The Tuscany Hotel at 120 East 39th Street in Manhattan's Murray Hill neighborhood. The Miami-based company plans to begin operating the units in the fourth quarter under its LuxUrban brand, which is oriented toward vacation and business travelers.
Earlier this month, CorpHousing said it had acquired 217 units in a luxury hotel in Downtown Manhattan, the name of which it did not specify.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
