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Article: Park Lane Hotels International acquires Grand Bay Hotel at Equitable Center in New York City.

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PR Newswire
Article date:
June 26, 1989
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PARK LANE HOTELS INTERNATIONAL ACQUIRES

GRAND BAY HOTEL AT EQUITABLE CENTER IN NEW YORK CITY

NEW YORK, June 26 /PRNewswire/ -- Park Lane Hotels International announced Monday that it has acquired the 178-room Grand Bay Hotel At Equitable Center in New York from 761 Hotel Associates. Park Lane Hotels is based in San Francisco and Hong Kong.

Park Lane President and Chief Executive Officer Lawrence Chan said terms of the sale, currently in escrow, have not been disclosed. The sale is expected to be complete by mid-July.

The Grand Bay Hotel is a luxury European-styled property featuring 52 suites among its 178 rooms. Among the ...

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