Al Rayyan Tourism Investment Company (ARTIC), one of the world’s leading investment companies in the hospitality sector and wholly owned by Al Faisal Holding Company, celebrated the official opening of the Crowne Plaza Manhattan Times Square Hotel, following Completing a comprehensive development and transformation of one of its most prominent hotel assets in New York City.
The official opening witnessed the presence of His Excellency Sheikh Faisal bin Qassim Al Thani, Chairman of the Board of Directors of Al Faisal Holding; Sheikh Thani bin Faisal Al Thani, member of the Board of Directors of Al Faisal Holding; Mr. Tariq Mahmoud Al-Sayed, Managing Director and CEO of ARTIC; Mr. Cyril Moawad, Chief Operating Officer; Mr. Gregory Paulino, Head of Asset Management USA; And Mr. Mohamed Al-Sayed, Vice President of Asset Management USA.
Also present from the management team at IHG Hotels & Resorts were Mr. Julian Pauly, CEO of the Americas; Mr. Colin MacDonald, Managing Director and Senior Vice President; and Mr. Peter Clark, Vice President of Franchise Operations in the Americas. From Highgate, the hotel’s operators, Mr. Mahmoud Al Khimji, co-founder and Chairman of the Board of Directors, attended; Mr. Arash Azarbarisan, Partner and CEO, along with a number of senior officials and company representatives, in addition to a number of invited guests.
Located at 790 Seventh Avenue in the heart of Midtown Manhattan, the 22-story hotel enjoys an exceptional location just steps from Times Square, Rockefeller Center, the Broadway Theater District and Central Park. The hotel includes 685 rooms and suites with views of the city, and has undergone a comprehensive development process aimed at strengthening its position in the Manhattan hospitality market, one of the most important and competitive hospitality markets in the world.
The opening of the hotel represents an important milestone in ARC’s strategy to invest in high-quality hospitality assets in the most prominent global cities and destinations. The company is keen to continue developing its portfolio and enhancing the performance of its assets and its competitiveness, in a way that supports its growth and enhances its presence in the global hospitality markets.
On this occasion, His Excellency Sheikh Faisal bin Qassim Al Thani, Chairman of the Board of Directors of Al Faisal Holding Company, said: “I am pleased to participate today in the opening ceremony of the Crowne Plaza Manhattan Times Square Hotel in its new look, which represents a new station in the international journey of ARTEC. Since the company’s founding, our vision has been clear in building a diversified portfolio of distinguished hotel assets in the most important global destinations, and expanding our presence in a deliberate manner in markets where we see promising opportunities for growth.
Over the course of more than two decades, I feel proud of what the company has achieved during this journey, and what it has succeeded in building from a strong base of distinguished investments and assets, and its transition from a company that started in Qatar to a global company that enjoys a presence, reputation, and trust in a number of the most important hospitality markets around the world. I believe that this process also reflects the ability of Qatari private sector companies to grow, expand and compete in global markets.
New York holds a special place as one of the world’s most important centers for business, tourism and culture, and our continued investment in this hotel reflects our confidence in the city and the long-term prospects of the hospitality sector in the United States.
I extend my thanks and appreciation to the members of the IHG Board of Directors who were keen to attend and all those in charge of the hotel and everyone who contributed to the completion of this project. I wish the work team every success in this new phase, and that the hotel will continue to achieve more successes and strengthen its position in the hospitality market in New York.”
Mr. Tariq Mahmoud Al-Sayed, Managing Director and CEO of Al Rayyan Tourism Investment Company (ARTIC), said: “The opening of the Crowne Plaza Manhattan Times Square after the redevelopment process represents an important milestone for this hotel within the international ‘ARTEC’ portfolio, after a comprehensive development process that contributed to presenting a new vision for the hotel while preserving its distinctive New York character, in addition to improving the guest experience and providing modern designs in its various facilities. The development work focused on enhancing the efficiency of space use, while incorporating sustainable materials and practices that support the hotel’s performance in the long term. The long one.
The hotel has an exceptional location and great potential in the heart of Manhattan, and has since become one of the important properties in our portfolio in the United States. The development process included various aspects of the hotel, from design, rooms and facilities to restaurant, meeting and event spaces, while preserving its distinctive character and connection to New York City.
Our partnership with IHG Hotels and Resorts represented an important step in this stage of the hotel’s journey, as it was launched in its new form under the “Crowne Plaza” brand, while “Highgate” is managing it. By combining ARC’s investment vision, the strength of the Crowne Plaza brand, and the operational expertise of Highgate, we are establishing a new phase for this hotel that enhances its ability to compete and achieve strong and sustainable performance. The United States remains a strategic market for ARC, and we see promising opportunities for continued growth. We will continue to invest in our current portfolio, in parallel with studying new opportunities and partnerships that will enhance our presence and support the growth of our international portfolio.”
The new experience includes the distinctive “Manhattan Level” floor on the upper floors, which offers spacious suites and panoramic views of the city skyline, in addition to the exclusive “Broadway” suite on the 22nd floor, as well as an enhanced range of dining options, meeting and event spaces, and social facilities.
The official opening of the Crowne Plaza Manhattan Times Square hotel strengthens ARTEC’s presence in North America and supports the company’s strategy to build a diversified international portfolio of high-quality hotel assets in key markets around the world.