Lobby of the New York Manhattan Hotel
The Red Roof Inn at 6 West 32nd Street near Fifth Avenue has undergone a $3 million renovation and changed its name to the New York Manhattan hotel, or NYMA, as part of owner Apple Core Hotels’ two-year plan to renovate and rebrand three other properties in the city, Crain’s reported. The company launched the initiative in 2008 when it remade its Super 8 Motel at 59 West 46th Street into the Hotel @ Times Square. Since the name change, revenues per available room, or revpar, have grown by 20 percent. By becoming an independent property, companies can save money on hotel franchise fees, which can cost between 8 and 11 percent of a hotel’s revenues. [Crain’s]