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Thursday, January 3, 2008

Jay Z Now Owns A Hotel Chain

Hip-hop mogul Jay-Z is to add hotelier to his resume - he's launching a chain of five star hotels.

The rap entrepreneur recently purchased (a few months ago) a chunk of land in New York's upmarket Chelsea, Manhattan, for $66 million ($33 million) through his company, J Hotels. And now Carter and his business partners, Charlie Blaichman and Abraham and Scott Shnay, have announced their plans for the luxury buildings.

The Manhattan spot will be the firm's flagship location, with a view to expanding the chain - to be named after the company - across the country.

Estate agent Ronald Solarz, who closed the deal for Eastern Consolidated, says of the property: "West 22nd Street, between 10th and 11th Avenue, is arguably the heart and soul of the West Chelsea High Line district and is a perfect location for an upscale life style-oriented five star hotel."

The Big Pimpin' star already owns the sports bar chain 40/40 Club, in addition to numerous ventures in clothing and alcohol branding.

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