Marc Sternagel, General Manager Novotel New York Times Square and John Fareed

John Fareed Hospitality Consulting LLC wins repositioning assignment for Novotel New York Times Square.

Accor and Chartres Lodging Group retained JFHC LLC to assist with repositioning the Novotel New York Times Square, as the flagship hotel enjoys a $115 million “top-to-bottom” renovation. Plans call for the transformation of all 480 guest rooms, food and beverage outlets, and public areas. The renovation is expected to be completed in the fall of 2013.

Accor is the world’s leading hotel operator and market leader in Europe, is present in 90 countries with more than 4,400 hotels and 530,000 rooms. In addition to Novotel, Accor’s broad portfolio of hotel brands includes Sofitel, Pullman, MGallery, Mercure, Adagio, ibis, all seasons/ibis Styles, Etap Hotel/Formule 1/ibis budget, and hotelF1.

The Chartres Lodging Group LLC, is an investment and advisory firm focused on the acquisition, asset management, renovation and development, and property management of lodging assets. Chartres Lodging’s principals have been responsible for over $8 billion of lodging investments and have asset managed over 100 upscale and luxury hotels, resorts and conference centers. The firm is currently responsible for a $2.2 billion, 12,500-room portfolio of luxury and upscale hotels, conference centers and resorts in the United States and Japan.