Helmsley Hotel draws 15 bidders

The New York Helmsley Hotel has drawn 15 different bidders — Tishman Hotel & Realty, for one, according to Crain’s, as the 773-room hotel clears its first round of bidding. Several of those potential buyers made offers exceeding $300 million, as industry insiders predict the second round of bidding for the hotel at 212 East 42nd Street near Third Avenue will be due by mid-December. Sean Hennessey, chief executive of Lodging Advisors market analytics group, said that the aggressive bids for the Helmsley are a good sign for the overall hospitality market in the city. “There are a lot of hotel-specific funds out there looking to put money to work,” Hennessey said. News that the Helmsley had hit the market first emerged in September. [Crain’s]