Starwood Hotels & Resorts said it will open its fourth Four Points
by Sheraton hotel in the Financial District in 2013 under an existing
development agreement with the Lam Group.
The 264-room property, to be located at 6 Platt Street, will be the eighth Starwood
Property developed by the Lam Group and the fourth New York hotel to
open under the Four Points brand. John Lam, CEO of the firm, acquired the development site in 2007.
The Lam Group has developed more than 20 hotels in New York over the past 10 years and currently owns and operates 10 properties.
In 2007, the Lam Group signed a deal with Marshall Management to consult
on its hotel projects in New York, including the 150-room Four Points by
Sheraton in Soho and the 150-room Fairfield by Marriott in Long Island
In 2009, Lam sold the 244-room Fairfield Inn New York Manhattan/Times Square South at 330 West 40th Street to Los Angeles-based Gehr
Development for $99.5 million.
Lam and Starwood officials did not return calls seeking comment.