Marriott International has acquired the W New York -- Union Square for $206 million and plans to transform the property into a showcase for W Hotels' latest revitalization efforts.

Marriott International president and CEO Arne Sorenson said, "There's no better place than New York City to reveal to the world the future of our W Hotels brand, so we're tremendously excited about this acquisition and the unique opportunity that it presents for our reinvention strategy." 

Located at 201 Park Avenue South, the 270-room W New York -- Union Square resides in a 20-story Beaux Arts building that opened its doors in 1911 as the headquarters of the Guardian Life Insurance Company of America. The property became a W hotel in 2000. 

Marriott intends to create "a signature, socially charged spa and an expanded restaurant" at the W New York -- Union Square, as well as implement "immersive, next-level contextual design; authentic, experiential programming; and a fresh take on the brand's signature Whatever/Whenever service philosophy."

The move to turn the W New York -- Union Square into a brand flagship comes as Marriott seeks to reinvigorate the 21-year-old W flag, with W owners across North America committed to approximately $200 million in property renovations across the U.S. and Canada. 

The brand, which has 56 locations worldwide, recently debuted its first North American mountain resort with the opening of W Aspen and plans to open its first outposts in Philadelphia and Toronto next year. 

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