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Lofty Lodgings

A new class of airy, open and affordable hotels is springing up.

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This story appears in the July 2006 issue of Entrepreneur. Subscribe »

With hotel prices surging, business travelers are taking a renewed interest in midmarket hotels, which usually trade attractive price points for not-so-attractive design points.

A new hotel company, NYLO, is trying to change that trade-off. The idea, according to CEO John Russell, is to offer the chic style of urban lofts and the amenities of boutique hotels at midscale rates--typically $115 to $135 per night. NYLO rooms will be spacious, airy, light-filled and slightly industrial. Each room will have a flat-screen TV and free high-speed internet; amenities include a 24-hour restaurant, business center, library, meeting facilities and gym. The first NYLO properties will open next year.

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