For the past twenty years, Fortress Investment Group has been one of the world’s largest asset managers. The Los Angeles, California based investment advisory firm has a roster of global clients. The firm manages around forty one billion dollars for their clients. These clients number over seventeen hundred investors who have their money in credit investments, real estate, capital investment strategies and private equity.
This firm is a trusted partner that is constantly forming partnerships with others. Recently, the investment advisory firm has partnered with a real estate development company, along with other big names to work on a development. Fortress Investment Group has acquired the 20 Times Square property located in New York City. The investment firm has a list of goals and plans set to revamp the 20 Times Square property.
New York City is one of the most popular cities in the world for tourism. Times Square is a popular destination in New York City that attracts millions of people annually. Fortress Investment Group knew acquiring a property in Times Square would be a wise financial decision for the brand. The Times Square Edition will be a grand property that houses lodging, retail and dining options for guests that stop by the luxury property. Two hotels are being renovated currently to make way for the soon to be blossoming number of visitors to the property. The DoubleTree Suites and Marriott Hotel are across from the famous and historic Palace Theater. The purpose of the renovations is too broaden the space of the two hotels. A total of seventeen hotel rooms will be in the hotels. Meeting spaces are being added so business occasions and business meetings can be held. An event space is being added, as well as with other amenities. A cool LED screen will be added to the property.
Fortress Investment Group will be tapping into the demands and spending power of luxury travelers. Over seventy thousand square feet will give luxury travelers all of the needs they need. Travelers and New York City residents will be able to indulge in the wonders of 20 Times Square.