Posted 8/6/2012 - 1:58:22 AM
Vornado Realty Trust plans a redevelopment project at the New York Marriott Marquis Times Square Hotel.
NEW YORK—Host Hotels & Resorts entered into a lease with Vornado Realty Trust to allow Vornado to redevelop retail and signage at the New York Marriott Marquis Times Square Hotel.
Vornado plans to spend as much as $140 million to redevelop and expand the hotel's existing retail space, including converting the below-street-level parking garage. Vornado also plans to install six-story-high, block-front LED signage 300 feet long on the front of the building.
The convention hotel sits prominently facing Broadway in the midst of the tourist-friendly Times Square theater district.