Artimus Sells NoMad Hotel for $203M

Artimus Construction just cashed out big time, selling their NoMad hotel for $203 million to Meliá Hotels International — the same company already running the property. Built from scratch on land they bought for just $35 million back in 2013, the 21-story hotel with 313 rooms and its restaurant, The Wilson, is now part of Meliá’s global luxury portfolio. The deal comes amid a sluggish hotel market, especially with the World Cup’s expected NYC boost still unrealized. Meanwhile, other hotels like the Garment District Fairfield are changing hands for nearly $40 million. This marks Artimus’s major exit from the hotel game — a sign that even in a slower market, big players are still making big moves. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9d7f5839c5793434