The Parker NYC Under New Management

The Parker Hotel in New York has been sold to GFI Capital Resources Group and Elliott Management Corporation, an investment firm. The deal was valued at approximately $240 million. These two powerhouses are known for other high profile ventures such as the Ace Hotel in New York and the NoMad Hotel in Midtown. GFI has previously partnered with Elliott Management to open the Beekman, a Thompson Hotel in downtown Manhattan in 2016. The Parker project expects nearly $1 million in renovations and will begin in 2020. The hotel will remain open during construction and will rebrand as a Thompson hotel in 2021. Hyatt attained the Thompson properties with the Two Roads Hospitality acquisition last October. Hyatt will be running The Parker and will include luxury residential condos.
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