Old Owner Buys Back the Chelsea

October 14, 2015
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Old Owner Buys Back the Chelsea

The Chelsea Hotel is more than a hotel in the middle of Manhattan. The Chelsea Hotel is brand unto itself. People from around the world are dying to stay at the Chelsea Hotel, and staying at the hotel for just one night could be the highlight of a trip to New York for some people. The Chelsea is going back into familiar hands as its old owner is buying the hotel back for his own portfolio.

What You May Not Know About New York Hotels

There are several nice hotels in New York, but all these hotels are owned by many different real estate moguls. There are hotels that are owned by a single owner, and there are hotels that fall into a catalog of properties like the Chelsea. The owner of the Chelsea is selling the hotel back to Ed Scheetz, but the person selling the Chelsea is likely to go on to buy other hotels in the city. The New York City hotel market is like a big game of musical chairs where people are buying and selling properties for millions of dollars every year.

What Is The Chelsea Like?

The Chelsea has been owned by many people over the years, and the hotel has always been one of the nicest in the world. The service has never changed, and the style of the hotel has never changed. The people that are enjoying the Chelsea today are enjoying it just as people 100 years ago did. The consistency in the style and appeal of the Chelsea is something that no one can deny.

Will Prices Change At The Chelsea?

New management at a hotel will likely cause changes in prices, but Ed Scheetz has not said if we will change prices at the hotel to meet the demands of a new business plan. He could keep the business plan exactly the same as it is now, and he may choose to simply hold on to the hotel until he retires. The Chelsea is home to some amazing hotel rooms, but the hotel is also home to some very expensive apartments. Living in the Chelsea is like a dream come true for some, and Mr. Scheetz may feel as though it is time for him to go home to a hotel he has always loved. Buying back the Chelsea is his way of getting in touch with his roots once again.