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Onsite: Kor Hotel Group Eyes ManhattanApril 18, 2007 By: David Eisen Travel Agent
The Kor Hotel Group is making a huge push in development currently, looking to join the ranks of Four Seasons, Ritz-Carlton and Mandarin Oriental by building in major cities, Nick Clayton, the group's president, said on Tuesday. The L.A.-based group is now putting the finishing touches on a $12 million renovation of its Tides South Beach and will be introducing more properties soon-two in Mexico and the Loden Vancouver in just four months. While many of the company's properties under the Tides and Viceroy brands are situated mostly on the west coast, south Florida and Mexico, Clayton is enthusiastic about gaining a presence in more gateway cities. "I hope to talk about a Viceroy in New York soon," he said. Taking it a bit further, Kor's senior vice president of sales and marketing, Tom Santora, said the group would probably make an announcement within 90 days of a new build. He cited Midtown as a possible location. Kor's other target markets are San Francisco and Washington, D.C. While building in cities such as New York is not only expensive, it is also tough due to land constriction. However, the time is right: hotels remain filled, demand still outpaces supply and operators are able to maintain high daily rates.