Former owner of Jumeirah Essex House buys it back to rebrand as JW Marriott Essex House
Skift Take
The Jumeirah group paid almost $425 million in 2005 for the property and spent millions refurbishing it and turning rooms into condos. The latest sale excludes most of those condos.
Strategic Hotels & Resorts Inc. said Friday that it reached a deal to buy New York City's Essex House Hotel from the Dubai Investment Group for about $362.3 million.
The Chicago-based real estate investment trust said the deal includes 509 hotel rooms, nine condominium units
