Hong Kong-based Langham Hospitality Group has reached an agreement to acquire the Setai Fifth Avenue for an undisclosed price.
It will be Langham's first hotel in New York.
Langham will rebrand the 2-year-old hotel as the Langham Place. The 214-room property is in midtown Manhattan, just south of Bryant Park.
Langham has 14 hotels worldwide, including properties in Boston and Pasadena, Calif. The Langham Chicago is slated to open next year. The first Langham hotel opened in London in 1865.
The Setai Fifth Avenue is one of five hotels operating under Capella Hotels & Resorts, a company run by former Ritz-Carlton president Horst Schulze.
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