Novotel Times Square to get €89 million revamp

The Novotel New York Times Square is to undergo a €89 million revamp over the next two years, following the sale of the property by Accor to a joint venture partnership between Chatres Lodging Group and Apollo Global Management. The £160 million sale and management-back agreement will see Accor continue to manage the property, and the hotel will remain open during the renovation programme, which will take place during 2012 and 2013. The 480-room hotel opened in 1984, and is located on the corner of 52^nd Street and Broadway. For more information visit novotel.com. Report by Mark Caswell