NYLO Hotels recently announced it will break ground on its first hotel, in Plano, Texas, in the fourth quarter of 2006. The company’s second groundbreaking, in Warwick, is slated for the second quarter of 2007.
“These cities have dynamic business communities with outstanding dining, recreation and nightlife,” says John Russell, NYLO CEO. “They make ideal inaugural sites for our new lifestyle hotel brand.”
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The 164-room hotel in Warwick is planned for the 19-century Pontiac Mills, a historic complex overlooking the scenic Pawtuxet River that’s just 2.5 miles from T.F. Green Airport.
Other locations are in various stages of negotiations for NYLO-owned and operated hotels, Russell says.
NYLO accelerated its growth plan this spring, when Lehman Brothers became an equity investor and strategic partner in the company.
Franchising is slated to begin the first quarter of 2007. NYLO plans to open 50 hotels in suburban and secondary markets throughout North America by 2010.
