Smith Hill Capital and Bain Capital have completed a $216 million refinancing for the Westin New York Grand Central Hotel, reinforcing its position in the competitive Manhattan hospitality market.

Information on the Target

The Westin New York Grand Central Hotel is an iconic property situated in the heart of Midtown Manhattan, specifically located on East 42nd Street, just a block away from Grand Central Terminal. This prime location ensures easy access to a multitude of key office tenants, popular tourist attractions, and major transit points. The hotel features 774 guest rooms and approximately 18,750 square feet of versatile meeting and event space. Additional amenities include a full-service restaurant known as Amuse Marketplace & Bar, a fitness center, and valet parking services.

This esteemed hotel was acquired by its current ownership in 2019, during which it underwent significant renovations in 2021, enhancing its value and appeal in one of the most competitive lodging markets globally.

Industry Overview in the United States

The hospitality industry in the United States has displayed remarkable resilience and growth, particularly in urban markets such as New York City. With a consistent influx of both business and leisure trave