(Businessweek) – A new high-end hotel in Manhattan’s Union Square will have either an art gallery, doctor’s office or yoga center, part of a plan to generate more than 10 percent of the property’s revenue through sources beyond its 175 rooms.
“We’ve done as much as we could on the cost-cutting side,” said Neil Shah, president and chief operating officer of Hersha Hospitality Trust (HT) (HT), which will own and manage the hotel. “Now it’s time to use our real estate and our position to help create profits.”
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