The agreement comes just two months after DHG's $532-millionrecapitalization of the Benjamin and Affinia Hotels portfolios.With the recapitalization, execs at the family-owned companyrevealed a new company mission to grow DHG's portfolio nationallythrough acquisitions, management contracts, joint ventures andinvestment partnerships. Plans include expanding core brands aswell as leveraging its expertise to manage other branded andindependent properties.

"The purchase of Fitzpatrick Chicago is a milestone in DHG'sgoal to build our portfolio nationally, and a perfect complement tothe Affinia branded hotels in New York," Patrick Denihan, co-CEO ofDHG said in a released statement. Company execs could not bereached for comment by press time.

DHG currently owns and operates six hotels in New York under theBenjamin and Affinia Hotels brands and manages several independentproperties. Company execs say this most recent acquisition is "amajor step towards Affinia's long-term goal to become a nationalbrand with hotels in the top 25 US markets."