X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LAKEWOOD, NJ-Hotels Unlimited has a revised proposal before the township committee for a $15-million hotel and restaurant project here. The proposal is a newer version of a plan, approved by township officials three years ago, for a hotel and conference center that would have had a total of 200 guest rooms.

The newer proposal from the East Windsor-based Hotels Unlimited calls for 110 guest rooms and significantly reduced conference space. New to the mix, however, is the addition of three restaurants, two of which have already committed to the project. According to Carey Tajfel, vice president of the family-owned development firm, Ruby Tuesday and LongHorn Steakhouse have already signed leases for the yet-to-be-built project.

Both national retail chains have multiple eateries in the Garden State, including several in neighboring Monmouth County, but it would be the first unit for each in Ocean County. The third restaurant slot remains uncommitted but, according to Tajfel, his company is looking for a coffee shop-type tenant.The centerpiece of the project, however, would be the 110-key hotel, and Hotels Unlimited already has a commitment from Hilton Garden Inn for that property. Hotels Unlimited operates hotels under the Holiday Inn, Radisson, Ramada and Days Inn, and the project on Route 70 at Exit 88 of the Garden State Parkway here would be its first deal with a Hilton brand.

According to plans laid out by Tajfel, his company hopes to start construction in the spring of 2006. The hotel would take about one year to complete, opening in early 2007. The eateries, with an estimated four-month construction time frame, could be open for business by late 2006.

Hotels Unlimited officials also say they are seeking tax breaks from the township committee to complete the project. According to a published report, the committee is considering such tax breaks, but has made no decision. Local officials could not be reached for comment.

Hotels Unlimited’s holdings currently include eight hotels, as well as retail, office and self-storage facilities. The company is scheduled to open a Holiday Inn Express Hotel & Suites in nearby West Long Branch next spring, and has other four hotels under its current brands in the pipeline in New Jersey and one in Florida.

And while the project here would be the company’s first with a Hilton brand, it has two others in the planning stages, including a Hampton Inn in Freehold and a Staybridge Suites in Washington Township. Both are two to three years away, according to the company’s website.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.