NYLO, which operates three boutique hotels in Texas and one in Rhode Island, plans to open its first New York City hotel by the third quarter of 2013.
NYLO will take over the On the Ave hotel on Manhattan’s Upper West Side.
The NYLO New York City will be the company’s first franchised property. It will have 298 rooms and three restaurants.
The hotel, which is owned by a Lehman Bros. affiliate, is located at Broadway and 77th St. Follow Danny King on Twitter @dktravelweekly.