After a water-skiing accident that took the hotelier off his feet for six weeks, André Balazs decided to make some changes.
He sold off his 20 percent stake in Standard International along with his stake in the Standard Hotel. As TRD reported, the $340 million sale of the hotel is slated to become New York’s largest single-asset hotel deals of 2017.
Though Balazs began extricating himself from the projects years ago, the final parting of ways came this summer, weeks after his third son was born, while he was bedridden with leg lifted precisely 24 inches above his heart, according to the New York Post.
“In order to find the tranquility and personal interaction I need at this time of physical healing, I would appreciate it if you e-mail only documents you believe I must review,” he informed associates via emails according to the Post.
Balazs’ boutique hotel portfolio now spans the Mercer in Soho, Sunset Beach on Shelter Island (where his water-skiing accident occurred), LA’s Chateau Marmont, and London’s Chiltern Firehouse.
[New York Post] — E.K. Hudson