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Marriott's St. Regis New York changes owners, but not much else

Nov. 01, 2019
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3 min read
St. Regis New York Review-Add-5
Marriott's St. Regis New York changes owners, but not much else
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Ownership of The St. Regis New York hotel officially changed hands on Thursday, as Marriott sold one of its most iconic properties to the Qatar Investment Authority for $310 million.

The St. Regis New York has been a Manhattan institution ever since American financier John Jacob Astor IV opened the golden doors of the property in 1904. Located at 2 East 55th Street at Fifth Avenue, the 18-story hotel's King Cole Bar is where the Bloody Mary was invented in 1934 (it was originally called the Red Snapper) and it's been home to a number of celebrity guests including a Japanese prince; the surrealist artist Salvador Dalí and his wife; and actress Marlene Dietrich.

The St. Regis has even hosted fictional patrons: James Bond stayed here in Ian Fleming's 1954 novel "Live and Let Die."

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And this isn't the first time The St. Regis has changed ownership. Marriott, for example, acquired The St. Regis New York as part of its $13.6 billion dollar acquisition of Starwood Hotels & Resorts in 2016.

At the time of the Starwood acquisition, the Qatar Investment Authority (QIA) considered purchasing both The St. Regis New York and its sister property, The St. Regis San Francisco. Ultimately, the Qatar authority ended up purchasing only The St. Regis San Francisco to a tune of $175 million in December 2016. Two years earlier, the QIA added to its portfolio The St. Regis Rome for just shy of $151 million.

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So, what does this acquisition mean for travelers, including Bonvoy members? History suggests that, well, not much will change. Both the San Francisco and Rome properties continue to fly The St. Regis flag.

In fact, Marriott doesn't own most of the hotels in its massive global portfolio, and focuses instead on earning licensing fees through its franchise ownership model.

Still, The Points Guy reached out to Marriott for comment and will update this story once a statement has been received.

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Why We Chose It

There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)

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  • 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
  • 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
  • Packed with credits foodies will enjoy
  • Solid welcome bonus

Cons

  • Not as useful for those living outside the U.S.
  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
  • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
  • Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
  • Terms Apply.