Fitzpatrick plans new 250-room Midtown hotel

[New Jack City]

Crains NY

Fitzpatrick plans new 250-room Midtown hotel

by Lisa Fickenscher

The Fitzpatrick US Hotel Group on Thursday announced plans to build a new Midtown hotel, a step that may help meet growing demand for rooms in Manhattan.

The $500 million hotel and residential project at West 29th Street and Sixth Avenue is being developed by J.D. Carlisle Development Corp. The site is currently a parking lot.

The 250-room hotel will be managed by the Ireland-based Fitzpatrick group, which owns and manages two other properties in Manhattan. It is expected to open in 2009 and will include a 7,000 square foot outdoor terrace with a swimming pool.

With hotel occupancy rates rising to 90% in September, up from 87% a year ago, the project will help but not alleviate the need for more hotel rooms in the city.

An investor group put together by Cathal McGinley, managing director of KMS Commercial, is raising the funds for the building and will handle the sale of residential units.

Mr. McGinley said this joint venture represents the beginning of a five-year expansion plan of the Fitzpatrick hotel brand in the United States.

“We are looking at opportunities in Washington, Boston and another location in New York,” he said.