AVENUE
 
April 2007
 
AVENUE Profile
 
   
Traveling in Style
 
Developer Hank Freid redefines the chic hotel experince
 
   
   
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A New Perspective

Right: Hank Freid recognized early on that hotels could be fashionable and reasonably priced at the some time, and he made it his mission to revolutionize the idea of a hostel-hotel.

 
City Style
Center: With chlc and elegant interiors, Hank Freid's new hotel. Sanctuary, Will serve as a sophisticated and elegant oasis amidst the hustle and bustle of midtown Manhattan
 
Y
ear after year, the glitz and glamour of New York City draws countless young travelers from all over the world. Thrilled by the opportunity to explore the luxurious side. of the City, these visitors see Manhattan through the eyes

of well-known socialites and celebrities: Afternoons are filled with sightseeing, followed by a quick drink at the Gramercy Park Hotel or another chic establishment. For such travelers, staying at plush boutique hotels, like those made popular by lan schrager or Andre Balazs, would be ideal, but these individuals are often constrained by a limited budget. Fortunately, developer Hank Freid has created chic yet affordable hotel with such travelers in mind.

    The Founder and CEO of the Impulsive Group, Hank Freid got his start in the industry in the mid-1970s. He took a chance on a rooming house at Broadway and 101st Street and transformed it into the 126-room Broadway Hotel, which provided clean, affordable accommodations for those visiting New York. Hank Freid recognized early on that hotels could be fashionable and reasonably priced at thesame time, and he made it his mission to revolutionize the idea of a hostel-hotel.

    "Hostels  originally served  as inexpensive  places for travelers,  especially  young

travelers, to lodge and get to know people from other culture," Says Hank Freid. With the

Broadway Hotel, he recaptured that ideal.His next major project was the purchase of a hotel at 103rd Street ad Broadway-today known as The Marrakech, a "budget chic" Moroccan-themed hotel with upscale hotel amenities and vibrant North African furnishings.

    After building on the successes of his first two ventures, Hank Freid showed extraordinary foresight when, in 1990, he bought the Ameritania Hotel on 54th Street and Broadway, next to the Ed Sullivan Theater, where the Late Show with David Letterman is filmed. "At the time, people were afraid to walk on 54th and Broadway," he recalls. "I decided to take a chance because I was young and had nothing to lose." The risk soon paid off. After some repairs, Hank Freid began charging guests $99 a night to stay at the hotel. Within three years, CBS bought the Ed Sullivan Theater, and the area buzzed with activity. Officials from the City of New York sent Hank Freid a thank-you letter for his role in revitalizing the neighborhood.

    Today, Hank Freid is working on a more upscale destination known as sanctuary, which will be a four-star hotel  locate on 47th Street between Sixth and Seventh avenues. Scheduled for completion later this year, Sanctuary will serve as a sophisticated, elegant oasis amidst the hustle and bustle of midtown, "I wanted to create a living room feeling there," Hak Freid says, "a place where people can sit and talk in the lobby rather than be up in their rooms." Hank Freid is also upgrading his Broadway Hotel, now known as the Broadway Hotel & Hostel, and the property will soon boast amenities such as plasma TVs, fireplaces and a movie-screening room.


    In the coming years, Hank Freid plans to bring his innovative ideas to other properties in New York, as well as developments in Atlanta, San Francisco, Boston and Tahiti. "My philosophy is that staying in a hotel should be fun," he says. "Hotels should be places where you can meet and greet new people and walk away with another experience."