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Northwood Investors To Sell The New York Palace Hotel To Lotte Hotels & Resorts

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NEW YORK, June 5, 2015 /PRNewswire/ — Northwood Investors, a New York-based real estate investment and management firm, confirms that it has entered into a contract to sell The New York Palace Hotel to LOTTE Hotels & Resorts, a Korea-based owner and operator of luxury hotels. The transaction is scheduled to close later this summer subject to satisfaction of customary conditions.

“I am pleased we were able to restore and revitalize The New York Palace to its position as one of the best luxury hotels in the world” said John Kukral, President and Chief Executive Officer of Northwood Investors. “We are honored to have had the opportunity to work with many dedicated employees at The New York Palace without whom the transformation would not have been possible. We are pleased that such a well-regarded owner as LOTTE will continue The Palace’s tradition of unparalleled service and luxury.”

The LOTTE Group is one of the biggest Korean conglomerates with 79 affiliates and annual revenue of $74 billion in 2013. LOTTE Hotels & Resorts, as a member of the LOTTE Group, is ranked number 1 in the Korean lodging market.

“LOTTE is a highly-experienced hotel operator and we are excited that they have chosen to acquire The New York Palace as part of their continued global expansion” said Jonathan Wang, Managing Director of Northwood Investors. “We look forward to seeing the company build on its success through its ownership of The Palace.”

About The New York Palace
The New York Palace, a luxury midtown hotel on the corner of 50th & Madison, completed a $160 million redesign in the fall of 2013. The renovation transformed the property’s premier rooms and suites in The Towers, a hotel-within-a-hotel. Additional upgrades included new lobbies, specialty suites and restaurants and bars including Trouble’s Trust, The Lobby Lounge, Tavern on 51, Rarities and Pomme Palais. In addition to 24,000 square feet of updated event space, The Palace is home to private spaces located in the historic Villard Mansion that feature 19th century interiors and are ideal for lavish weddings, events and dinners. With 909 rooms and suites, The Palace is known for unparalleled splendor, spectacular views, spacious rooms and exquisite service. Located across the street from St. Patrick’s Cathedral and only steps from Rockefeller Center — the hotel’s world-renowned courtyard incorporates motifs from several 15th-century Italian cathedrals and has served as the entranceway to the historic Villard Mansion since 1882. The New York Palace gracefully blends the landmark Villard Mansion with a contemporary 55-story tower. Guests can reserve accommodations online at http://www.newyorkpalace.com or contact reservations at 1-800-NY-PALACE FREE (1-800-697-2522 FREE).

About Northwood Investors
Northwood Investors is a leading privately-held global real estate investment and management firm with over 150 employees worldwide and total gross assets of approximately $8 billion. Northwood employs a fundamental, value-driven investment strategy with a longer-term outlook and a focus on key global cities, including New York City, Los Angeles, San Francisco, London and Paris. Northwood currently owns and manages a diverse portfolio of real estate assets worldwide including hospitality, office, retail, residential and industrial properties. For further information on Northwood, visit: http://www.northwoodinvestors.com

About LOTTE Hotels & Resorts
LOTTE Hotels & Resorts are currently in operation of 18 properties across five countries globally and have 16 more properties in the pipeline. LOTTE Hotels & Resorts have secured their brand equity by way of their award-winning Five Star properties. Their Six Star property in Moscow, Russia has been in the spotlight after being recently awarded with the Prix Villegiature Awards ‘Best Hotel in Europe’.

Media Inquiries- The New York Palace:
DKC Public Relations
212-981-5138
nypalace@dkcnews.com

Media Inquiries – Northwood:
Northwood Investors
Bryan Barbieri
508-340-1576
BBarbieri@northwoodhospitality.com
Source: Northwood Investors

Written by asiafreshnews

June 14, 2015 at 11:32 pm

Posted in Uncategorized

Global Salmon Initiative Launches Inaugural Sustainability Report Alongside World Ocean Summit 2015

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-To mark World Environment Day, the GSI today launches an interactive online Sustainability Report setting a new standard for transparency reporting for a global food sector. The report demonstrates the GSI members’ strong commitment to continuous improvement in the sustainability of their operations.

LISBON, Portugal, June 5, 2015 /PRNewswire/ — To mark World Environment Day the Global Salmon Initiative (GSI) today launched its inaugural Sustainability Report at the Economist’s World Ocean Summit 2015 in Lisbon, Portugal. The landmark report showcases key environmental and social data across all 14 GSI member companies. This is the first time a global food sector has collectively reported on sustainability performance indicators in such a transparent manner.

To view the Multimedia News Release, please click: http://www.multivu.com/players/English/7543151-gsi-inaugural-sustainability-report/

“The launch of GSI’s Sustainability Report demonstrates the group’s leadership in creating greater transparency across the aquaculture sector. It is a remarkable achievement that they have developed this collective reporting platform, and we strongly encourage other production sectors and platforms to follow suit,” said Piers Hart, Global Lead for Aquaculture at WWF.

The launch of the Sustainability Report represents a major accomplishment for the GSI, and will be critical for reporting against many of their objectives. The online Sustainability Report includes data on:

Key environmental and social indicators for each GSI member
Progress towards GSI’s goal of achieving Aquaculture Stewardship Council (ASC) certification across all farms by 2020
The efficiency of farmed salmon as a sustainable and healthy source of protein

“Today at the World Ocean Summit, global leaders are discussing the potential role aquaculture can play in improving the world’s economic growth. Through the launch of the Sustainability Report, we are able to show how farmed salmon represents a viable solution for economic opportunity, balanced with sustainable operations and improved environmental performance,” said Jon Hindar, GSI Co-Chair and CEO of Cermaq.

“In a demographic environment where the world is searching for sustainable sources of protein to feed a growing population, and people are eager for healthier food, farmed salmon rises as a highly efficient and healthy source of protein. Through the launch of this report, the GSI members are demonstrating their commitment to meeting this demand sustainably. The report sets a baseline for industry performance, and generates a reference point to track our progress in a manner that can be transparently reviewed by communities and stakeholders. This report is a genuine commitment to make significant progress in our sustainability, through hard work and continued focus from the GSI members,” said Ricardo Garcia, GSI Co-Chair and CEO of Camanchaca.

The report provides data for all GSI members in the following areas: fish escapes, fish mortality, antibiotic use, sea lice levels, sea lice treatments, wildlife interactions, use of marine ingredients in feed, compliance, occupational health and safety, and interactions with the local community.

The report represents many months of hard work and collaboration from all GSI companies. Collecting and collating comparable data from such diverse regions where GSI operates has been a challenging process, but over time and with more experience, the GSI will look to show significant progress in the data expressed in the Sustainability Report.

The full report can be viewed here: http://www.globalsalmoninitiative.org/sustainability-report

ABOUT GSI

The Global Salmon Initiative (GSI) is a leadership initiative established in 2013 by global farmed salmon producers focused on making significant progress on industry sustainability. Today GSI comprises 14 companies, representing approximately 50% of the global salmon production industry, that are fully committed to realizing a shared goal of providing a highly sustainable source of healthy food to feed a growing global population, whilst minimizing our environmental footprint, and continuing to improve our social contribution.

GSI member companies are Bakkafrost; Blumar; Cermaq; Compañía Pesquera Camanchaca; Empresas AquaChile; Fjardlax; Grieg Seafood; Huon Aquaculture; Los Fiordos; Marine Harvest; Multiexport Foods SA; New Zealand King Salmon; Norway Royal Salmon; and Ventisqueros. GSI companies have a presence in Canada, Chile, the Faroe Islands, Ireland, New Zealand, Norway, Scotland and Tasmania, and make significant contributions to the economies of these respective countries.

For further information on GSI please visit or contact us at:

Website – http://www.globalsalmoninitiative.org
Email – GSI@axon-com.com
Twitter – @GSI_Salmon

Video – http://www.multivu.com/players/English/7543151-gsi-inaugural-sustainability-report/
Source: The Global Salmon Initiative (GSI)

Written by asiafreshnews

June 14, 2015 at 8:53 pm

Posted in Uncategorized