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Marriott Puts Royal Spin on St. Regis New York

Qatar will bring a new sheen and possibilities to the legendary 115-year-old Manhattan property

The venerable St. Regis New York hotel has a new owner. Qatar Investment Authority purchased the legendary property last week for $310 million.

According to reports from Bloomberg and the Wall Street Journal, the deal includes a continued management contract by Marriott for licensing brands and managing properties for partners.

For Qatar, the hotel is another pin on the map – an addition to its global luxury hotel collection. The new hotel at East 55th Street near Fifth Avenue, was opened in 1904 by John Jacob Astor IV. Today, the 18-story Beaux-Arts building offers some 200 guest rooms and is probably best known or remembered for the King Cole Bar, where the Bloody Mary is supposed to have been invented.

Rooms at the St Regis New York are currently priced from $779 and run has high as $4,000 or more a night for a suite.