As The Real Deal reported in February, a partnership of Apollo Global Management and Chartres Lodgin

The Novotel Times Square hotel has embarked on an $85 million facelift that should be completed by September 2013, Crain s reported. The work that recently began focuses on infrastructural private tours of new york city improvements namely work to the heating and cooling systems. Early 2013 is when guest room and public space renovations will kick off.
As The Real Deal reported in February, a partnership of Apollo Global private tours of new york city Management and Chartres private tours of new york city Lodging Group purchased the hotel for about $94 million , and under the agreement, Chartres would take on a renovation of the 480-room property, as specified by the seller Accor Group, which continues to operate the hotel. In addition, the hotel will remain open throughout the renovation process.
Barry Nidiffer, private tours of new york city senior vice president of development management at Chartres, declined to tell Crain s how much the partnership paid for the hotel, located at 226 West 52nd Street between Broadway and Eighth Avenue. But he did say that purchasing it fit into the company s strategy of buying hotels in need of some work to capitalize on the potential.