Penn Station area to be site for new hotel

Crain's New York reported that OTO Development, a hotel company based in Spartanburg, South Carolina, has purchased a parcel of land on West 33rd Street, across from the future site of Moynihan Station, for almost $22 million and plans to build a hotel. When built, it will be the company's first in Manhattan. A start date for construction has not been decided, and it is unknown at this time what kind of hotel will be built.

Agovino, Theresa. New hotel slated for Penn Station area. Crain's New York. September 24, 2010.