It converts them from a national to an international company. There's been an uncertainty as to where (the companies' relationship) is going. Now that's cleared up.

The northern New Jersey market has not participated in the recovery as early as the Manhattan market but you are really starting to see performance accelerating.

It's so special for me to be an Irishman on this day. I'm a first generation Irish American, my mother came from Ireland. Today and this weekend is a very special time for me and my family.

Hoteliers love it. When there are few rooms available, no one has to sleep in a smoking room. And you don't have to worry about burn holes in the carpet.

It's not fancy, but it is right and it has been filled since opening day.

Smaller hotels in in-fill locations are a major trend in New York. The sites are not big enough to have meeting space and a restaurant, but you can still create an effective hotel product.