Riu Hotel & Resorts acquires NYC site for planned hotel

A large parcel of land in New York could become home to a 300,000-square-foot hotel under plans by Riu Hotels & Resorts, which purchased the site for $111.1 million. The planned Riu Plaza New York Times Square, which would have more than 600 rooms, is scheduled to open in 2015. Read the CoStar Group story here.

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