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Reuters
5 days ago
- Business
- Reuters
Exclusive: Gucci owner Kering in talks to sell stake in $1 billion Fifth Avenue property, sources say
PARIS/MILAN, June 5 (Reuters) - Gucci owner Kering ( opens new tab is in exclusive talks with buyout group Ardian about the sale of a stake in a prestigious Fifth Avenue building it bought just over a year ago, two people with direct knowledge of the matter told Reuters. The negotiations are part of the French luxury group's broad strategy to cut costs and sell stakes in prime real estate to help lower its heavy debt as the industry struggles with sagging consumer demand. Kering and Ardian declined to comment. Kering, controlled by family of CEO Francois-Henri Pinault, bought 715-717 Fifth Avenue in January 2024 for $963 million to secure a top retail location in one of the world's most popular shopping streets. The property stretches over 115,000 square feet across several stores. Kering's net debt soared to 10.5 billion euros ($12 billion) by the end of 2024, from close to zero three years earlier, following a shopping spree that saw roughly 4 billion euros spent on top properties in New York, Milan and Paris. Deputy CEO Jean-Marc Duplaix said earlier this year that Kering expects to raise 2 billion euros or more over the next two years through real estate transactions. Under a deal struck in January, Paris-based Ardian took a 60% stake in a joint venture with Kering containing three prestigious Paris properties, raising 837 million euros for the luxury group, which retained a 40% stake. The New York property discussions are also about the sale of a stake, said the sources, declining to comment on the value of the possible transaction or size of the stake under discussion. "We continue to work not to resell these assets, but to sell part of them and have a co-shareholder," Duplaix told shareholders in April. He added that the properties in Milan's Via Montenapoleone and on the Fifth Avenue were among the buildings under discussion, as well as real estate in Tokyo. Duplaix said that maintaining a presence in the main shopping streets was essential for Kering's brands, which also include Balenciaga and Saint Laurent. According to Cushman & Wakefield, Via Montenapoleone in Milan was the world's most expensive street for rents in 2024, followed by the upper-end of New York's Fifth Avenue. ($1 = 0.8756 euros)
The Independent
03-06-2025
- Entertainment
- The Independent
The best LGBT+ friendly hotels in New York City for Pride month and beyond
There are more LGBTQ+ people in New York than anywhere else in the United States and whilst that does mean travellers aren't likely to come up against much discrimination, it also means you want to pick the hotel that really makes the most of this vibrant city. The standards are high, so don't settle for anything less. Whether you're after a cosy boutique Art Deco bolthole, somewhere with a lively rooftop bar, a wellness retreat or straight-up luxury, these hotels each offer something special and unique, and are especially good for LGBTQ+ guests. The draws of The Big Apple are obvious, but it can be an exhausting beast to contend with, so the importance of returning to a hotel that you know will feel like a home from home, where you can completely unwind, cannot be overstated. Best LGBT+ Friendly Hotels 2025 At a glance 1. Langham NYC hotel Manhattan Located on the iconic Fifth Avenue, Langham NYC is a true gem of a stay for anyone, but especially LGBT+ couples. Whichever way you look from any of the 157 rooms or 57 suites, you'll see New York's most prominent landmarks. But that's only once you've finished exploring your room – these are some of the largest in New York City and boast expansive floor-to-ceiling windows. The hotel has a sleek and sophisticated vibe with neutral grey, chocolate brown and white marble welcoming you into a world of modern luxury. Michael White's Mediterranean hot spot Ai Fiori offers Riviera ambience and cuisine to match. Inclusion and diversity are woven into the understated elegance of Langham, from its Trevor Project partnership, to hosting Unapologetically Pink with OutThere, to TAG accreditation – the hotel has a reputation for going above and beyond to personalise each guest's experience. 2. citizenM New York Times Square hotel Midtown Manhattan citizenM New York Times Square blends chic, modern design with affordable luxury, right in the heart of Manhattan. The smartly designed rooms feature mood lighting and tablet-controlled amenities, making your stay effortless and stylish. The vibrant lobby is more than a check-in area – it's a lively lounge and co-working space that's perfect for meeting new people or simply unwinding. Don't miss the rooftop bar, where you can sip cocktails while soaking up truly stunning city views. It's also worth mentioning that the hotel is home to a new museum of street art and its own library. Known for its inclusive ethos, citizenM collaborates with LGBT+ creatives throughout the year as part of its Founders First initiative to champion inclusivity, and is also a big supporter of Pride with a plethora of events taking place around Pride month each year. 3. Moxy Chelsea hotel Chelsea, Midtown Manhattan Marriott's hip, boutique lifestyle offering has been a hit since launching in 2014, providing a very different offering from many New York hotels. They've done away with the huge lobbies, formalities and rooms packed with storage, in favour of modern minimalism, playful design and great vibes, with smart, multi-purpose furniture. Rising 35 stories, the hotel's industrial facade gives way to lush interiors, with guests welcomed by the charming Starbright Floral Design Residency entrance. Rooms are more compact than many, but with floor-to-ceiling windows and spectacular city views, the value is exceptional. Chelsea's artistic energy flows through the hotel, with attractions such as the High Line, Hudson Yards, and the iconic Chelsea Market just steps away. Recognised by the Gay Travel Awards for its inclusivity, Moxy Chelsea ensures LGBT+ travellers always feel warmly welcomed. In 2022, they developed an official partnership with Stonewall Inn Gives Back Initiative (SIGBI) and became the first-ever hotel to be designated a Safe Space for LGBTQ+ community members. From Bar Feroce's Italian cocktails to the glass-enclosed rooftop Fleur Room, this is lively, modern luxury for the not-so-stuffy modern traveller. 4. Moxy East Village hotel East Village Moxy East Village is an eclectic blend of New York's rebellious past and vibrant present, making it a standout in one of the city's coolest neighbourhoods. This 13-story hotel delivers design-driven spaces with nods to the East Village's punk roots, from graffiti-tagged mirrors to the retro rotary phones in its 286 cleverly arranged rooms (they actually get you through to the front desk too!). Its standout features include The Ready rooftop bar with string lights and panoramic city views, and Cathédrale, an underground French-Mediterranean restaurant boasting a jaw-dropping 26-foot sculpture. Like the Chelsea hotel, it's clever, compact and aimed at a younger crowd. With its lively mix of vinyl records, 80s-inspired decor, and welcoming spaces, Moxy East Village is as diverse as its guests. Visit during Pride, and you'll discover a full 'Moxy's Got Pride' programme, with book swaps, Burlesque Bingo and experience packages. Recognised for its buzzing environment and prime location across from the historic Webster Hall (where 1910s drag queens performed), the Frankie Goes to Hollywood sign, 'Relax, Don't Do It' – with the 'don't' crossed out – sums this gem up perfectly. Address: 112 E 11th St, New York 5. Park Central Hotel NYC Midtown Manhattan Built in the Roaring Twenties, Park Central Hotel NYC captures the unmistakable charm of classic Manhattan. The hotel's storied past includes hosting icons like Mae West and Eleanor Roosevelt. Today, it blends historic elegance with contemporary comfort, offering spacious rooms adorned with sleek wood furniture, marble-topped desks, top-of-the-range TVs, and Simmons Beautyrest beds. There may not be a full-service restaurant, but with a 24/7 high-performance gym, grab-and-go light bites and a vibrant bar, not to mention the ideal location, this is the perfect base in NYC. The hospitality here is renowned and you'll feel welcomed into the retro paradise in classic New York fashion. 6. The Muse New York (Kimpton Hotel) Midtown Manhattan The Muse New York (Kimpton Hotel) offers a boutique retreat amidst the chaotic buzz of Times Square. So relaxed, in fact, that people often mistake it for a spa. This chic haven combines elegant modern decor with playful touches like animal-print robes, all set within spacious, recently renovated rooms. Luxe amenities and spa-inspired bathrooms elevate your stay, while the hotel's whimsical nods to Broadway legends immerse you in New York's timeless allure. The Muse is known for attentive service and, as part of the Kimpton brand, is renowned for its proactive support of LGBT+ initiatives. Steps away from iconic attractions like Rockefeller Center and Broadway's theatres, The Muse places you at the heart of the action while offering a serene escape. So while the city might never sleep, you certainly will. 7. 33 Hotel Seaport Seaport Set amongst the cobbled streets, 33 Seaport Hotel is a luxurious boutique retreat in the heart of Manhattan's historic Seaport District, blending old-world charm with contemporary elegance. Housed in a red-bricked landmark building, this 66-room gem offers a serene escape from the city buzz, just steps from the Brooklyn Bridge and East River, and surrounded by a wealth of speciality stores, cafés, bistros and restaurants. Rooms feature plush textures, marble bathrooms, and natural light, with terrace options for breathtaking views. Expect a 24/7 fitness centre, as well as a flurry of welcoming touches such as complimentary drinks and locally made chocolates. The on-site Urban Cove Society & Kitchen serves modern American cuisine with global influences, while the Alcove Bar offers artisanal cocktails in a stylish setting. Both are revered! The hotel's dedication to inclusivity shines through initiatives such as partnering with LGBTQ+ artist Lisa Marie Thalhammer for a Pride month mural, created with local schoolchildren, celebrating love and community. 8. Nomo Soho hotel Soho A sleek fusion of historic charm and modern luxury, Nomo Soho is a design-forward retreat in one of New York's most vibrant neighbourhoods. Known for its striking blue-lit entrance and industrial-chic aesthetic, this hotel is an influencer's dream. Inside, the loft-inspired rooms feature floor-to-ceiling windows, plush bedding, and marble bathrooms, creating an upscale yet relaxed vibe. With a prime location near Soho's boutiques, galleries, and bars, Nomo Soho is perfect for those looking to soak up the city's creative energy. The buzzing Nomo Kitchen serves modern American cuisine in a greenhouse-style setting, while the rooftop bar offers panoramic views and a laid-back lounge atmosphere. A longtime favourite among LGBTQ+ travellers, Nomo Soho embraces inclusivity and supports Pride initiatives. Just a short stroll from the Leslie-Lohman Museum of Art, this stylish escape blends luxury with a welcoming, artistic spirit. 9. Walker Hotel Greenwich Greenwich Village The West Village isn't known for its luxurious hotels, but this is one of them. Situated on one of the prettiest streets in the area, the boutique Walker Hotel blends Georgian design with bold Art Deco detailing harking back to New York romance – picture draping plants, roaring fireplaces, seductive velvet and shimmering accents. This isn't large-scale corporate luxury, it's a cosier, more homely place where the staff know tonnes about the local area, including the legendary jazz nights; even the lobby is called the 'Poets Room'. Eco-friendly and ethical choices are plentiful, from the coffee served at Society Café to a host of cool local partnerships. Although it does have a small fitness centre, it's not packed with an exhaustive list of features like some luxury NYC stays, but it's a real cosy slice of old-school New York with lovable character, perfectly integrated into one of the city's nicest neighbourhoods. Famously, Greenwich Village was one of the birthplaces of the Gay Rights Movement in 1969, with iconic LGBTQ+ sites like the Stonewall Inn only a stone's throw away. In the past, the hotel has hosted Pride events benefiting LGBTQ+ focused non-profits such as Visual AIDS and created speciality cocktails to honour the community. 10. The William Vale Hotel Williamsburg The gem in the crown that is the blooming Williamsburg area, The William Vale is possibly the finest luxury experience in Brooklyn. Offering a chic blend of luxury, style, and unforgettable facilities, it's adored for its floor-to-ceiling windows, private balconies in every room, unbeatable beds and awe-inspiring views of Manhattan and Brooklyn. Its rooftop bar, Westlight, serves sweeping skyline vistas alongside craft cocktails, while the Italian-inspired Leuca delights with homemade pasta and wood-fired pizzas. Summer days are best spent lounging by the 60-foot outdoor pool, the longest of its kind in New York City, complete with cabanas, daybeds and poolside dining. There's also a Scandinavian-inspired wellness experience to try, and an ice rink in winter. Surrounded by indie shops, galleries, and buzzing music venues, this architectural wonder has knitted itself nicely into the local area, and they even have a curated Pride playlist. Arrive during Pride month itself, and you can expect a full programme of events including the Vale Cinema Series, showcasing queer cinema favourites, and the incredible Pride pool parties! 11. Warren Street hotel Tribeca, Manhattan Nestled in affluent Tribeca, Warren Street welcomes you into designer Kit Kemp's whimsical world. Turn back the clocks to the 19th century, when the area was a textile hub; this is the inspiration for Kemp's eccentric choices throughout the building. Everything is designed or sourced by her design studio, giving it a unique style, from the buttercup-yellow lobby to art sourced on Kent's travels and custom-made upholstery, interesting, playful colours are everywhere. The 21-foot bronze light sculpture is particularly eye-catching. All 69 rooms are uniquely designed and full of character, which is somewhat unusual for a luxury hotel, but don't be too hard on yourself if you find your eyes drawn to the outside with views of One World Trade Centre and the Hudson. We must mention, too, the superb location for West Village wandering, where you can visit The Stonewall Inn and other special sights. 12. The Pendry hotel Hudson Yards, Manhattan West Pendry Manhattan West brings a laid-back West Coast vibe to Midtown Manhattan with 164 guest rooms and 30 sprawling suites featuring floor-to-ceiling windows and abundant greenery. The hotel resides in the Manhattan West development, offering guests convenient access to attractions like the High Line, Hudson Yards, and Madison Square Garden. The architectural design stands out with its rippled glass exterior, while interiors create a calm sanctuary with neutral hues and warm lighting reminiscent of LA sunsets. Guests can enjoy Eastern Mediterranean cuisine at Zou Zou's, relax at the dimly lit Bar Pendry, or unwind at the rooftop cocktail lounge Chez Zou. Each room boasts panoramic city views, luxurious Italian linens and unforgettable marble bathrooms. You can even request an in-room Peloton set up, or, alternatively, make the most of the 1,700 square-foot fitness centre. At Pendry, every decision has been made to work towards its aim of 'having everything', and it's difficult to suggest otherwise. Be it special Pride cocktails, charity donations or the Hearts of Pendry initiative, the hotel consistently shows its community support. 13. The Chatwal NYC hotel Midtown Manhattan In the heart of theatre land sits The Chatwal, a hotel that oozes luxury from the beginning of your stay to the end. Housed in a landmark 1905 building once home to the famed Lambs Club, this boutique hotel oozes old-world glamour, celebrating Art Deco throughout its interiors, complete with leather-bound furniture, marble-clad bathrooms, and glittering chandeliers. With just 76 meticulously designed rooms, including themed suites with private terraces, guests enjoy an intimate, personalised experience, including butler service as standard. Steps from Broadway and close to Times Square, Bryant Park and Fifth Avenue, The Chatwal offers the perfect blend of serenity and centrality. Let's not forget the saltwater lap pool, fitness centre and glamorous Lambs Club restaurant. The hotel's commitment to inclusivity shines through with its LGBTQ+ initiatives, including Pride discounts and participation in NYC's Pride parade, ensuring every guest feels welcome. It's a luxurious haven for those seeking theatre, culture and timeless sophistication. Why trust us The hotels featured in this list have been carefully selected by The Independent 's expert travel writers, each with a deep knowledge of the destinations they cover. Our contributors either live in these locations or visit frequently, ensuring a personal and informed perspective. When picking which hotels to include, they consider their own experience staying in the hotels and evaluate location, facilities, service and all the other details that make for an exceptional stay for all types of traveller. @Sypped.
RTÉ News
27-05-2025
- Entertainment
- RTÉ News
Stephen Graham says he is being stopped on the street to talk about Adolescence
Actor Stephen Graham said the Adolescence creators have "done our bit" as he reflected on the amount of people who have stopped him in the street since the hit Netflix drama came out. The four-part series which explores misogyny among teenage boys has prompted a global conversation about online safety. This Is England star Graham, 51, who co-created the drama with Jack Thorne, plays Eddie Miller, who watches armed police burst into his home to arrest his 13-year-old son Jamie, played by newcomer Owen Cooper. Speaking to British GQ, he said: "The other day we were in New York and this woman came up to me. "She was about 75. I'm talking Fifth Avenue wealthy, in a beautiful cashmere hoodie and a Moncler gilet so expensive that it doesn't even have the badge on, you know what I mean? "She looked at me and, I swear to God, her eyes welled up. She said, 'I just want to give you a hug'. And her husband went, 'Can I shake your hand? We have sons and we have grandchildren'." He continued: "Then we've gone back to the hotel where I'm staying and some fella's pushing a bin round the corner. And he's looked up and he's gone, 'Oh my God. Your programme, man, I just want to say I think it's fantastic. We watched it, the whole family'. "And then he went about his business. And I just thought, 'Wow, if I'm in New York, and we've reached this cross-section of people, then s*** – this thing really has exploded, hasn't it?'" He added: "I hoped it (the show) would create conversation. "The amount of stuff me and (his wife) Hannah (Walters) are getting sent, and the amount of people I'm seeing on the streets who were saying that has happened between them and their children, is huge. "To me, that's objective complete. We've done our bit. Now you go and crack on." He also told the publication that his and Walters' production company, Matriarch Productions, "paid to put people up" on the production team "because they wouldn't have been able to afford it". He said: "By going, 'Look, we know how much you want it, we'll cover the rent' - that gives that person the opportunity to save money, and then on the next job, they can pay the rent." In March, creators Thorne and Graham spoke to UK prime minister Keir Starmer at Downing Street about the issues raised in the drama. The series took months of preparation and rehearsals so that each episode could be filmed in one continuous shot, which was praised by viewers of the show. Graham will be speaking at the GQ heroes conference, taking place at Soho Farmhouse, Oxfordshire, from 2 to 4 July. The heroes issue of British GQ is available via digital download and on news-stands on 10 June.
Yahoo
26-05-2025
- Business
- Yahoo
1 Industrials Stock with Exciting Potential and 2 to Turn Down
Even if they go mostly unnoticed, industrial businesses are the backbone of our country. But they are at the whim of volatile macroeconomic factors that influence capital spending (like interest rates), and the market seems convinced that demand will slow. Due to this bearish outlook, the industry has tumbled by 13% over the past six months. This drawdown was worse than the S&P 500's 3.6% decline. The elite companies can churn out earnings growth under any circumstance, however, and our mission at StockStory is to help you find them. Keeping that in mind, here is one industrials stock poised to generate sustainable market-beating returns and two best left ignored. Market Cap: $834 million Involved in the design of the Apple Store on Fifth Avenue in New York City, Apogee (NASDAQ:APOG) sells architectural products and services such as high-performance glass for commercial buildings. Why Are We Cautious About APOG? Products and services are facing end-market challenges during this cycle, as seen in its flat sales over the last five years Demand will likely be weak over the next 12 months as Wall Street expects flat revenue Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 2.8 percentage points Apogee's stock price of $38.66 implies a valuation ratio of 9.1x forward P/E. Dive into our free research report to see why there are better opportunities than APOG. Market Cap: $57.9 billion Established as part of the Chessie System and Seaboard Coast Line Industries merger, CSX (NASDAQ:CSX) is a transportation company specializing in freight rail services. Why Do We Pass on CSX? Flat unit sales over the past two years imply it may need to invest in improvements to get back on track Earnings per share decreased by more than its revenue over the last two years, showing each sale was less profitable Free cash flow margin shrank by 15.6 percentage points over the last five years, suggesting the company is consuming more capital to stay competitive At $30.83 per share, CSX trades at 16.8x forward P/E. Check out our free in-depth research report to learn more about why CSX doesn't pass our bar. Market Cap: $8.62 billion Helping build race cars at one point, Allison Transmission (NYSE:ALSN) offers transmissions to original equipment manufacturers and fleet operators. Why Are We Positive On ALSN? Offerings are mission-critical for businesses and result in a best-in-class gross margin of 47.7% Highly efficient business model is illustrated by its impressive 28.8% operating margin, and its profits increased over the last five years as it scaled Impressive free cash flow profitability enables the company to fund new investments or reward investors with share buybacks/dividends Allison Transmission is trading at $102.34 per share, or 10x forward EV-to-EBITDA. Is now the time to initiate a position? See for yourself in our comprehensive research report, it's free. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-05-2025
- Business
- Yahoo
NYC Small Business Month Expo offers free resources and workshops
NEW YORK (PIX11) – On Fifth Avenue between 37th and 38th streets, there are two floors of free resources. More than 5,800 small businesses have signed up for NYC's Small Business Month Expo. More Local News The space is called 'Center 415' on Fifth Avenue. It's transformed into a hub of help for small businesses. Thanks to small business services, PIX11 News got a sneak peek at the Small Business Expo, a day full of free exhibits, resources, and workshops for small business owners and entrepreneurs. Permitting and certifications will be done on-site, and thanks to the NYC Department of Small Business Services, it will all be free. Also, a non-profit called Bronxworks is hosting its third annual clothing drive. While donations have come in, they haven't kept pace with the demand. Eight schools with more than 100 young people need outfits. Finally, this Memorial Day Monday at 4:30 p.m., there will be a special All-American Us Monica Makes it Happen Show celebrating great Americans. I was honored to host the Ellis Island Medal of Honor ceremony again this year. This Memorial Day, we will have three medalists in our studios. Legendary journalist Marvin Scott, Linda Hoffman, the president of the NY foundations for senior citizens, and PIX11 photojournalist Dave Kimmel. Also, would you like a year's supply of Goya foods? Watch the show, and Goya will pick two lucky winners. A special thanks to Small Business Services for this sneak peek. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
