September 2, 2022 | By Graeme Kemlo
The Perth headquartered Paspaley, whose interests include pearl production, retail, aviation and agriculture, this week opened a luxury five-star hotel on Wall Street in lower Manhattan, New York.
The multi-generational business took over the historic Tontine building at 88 Wall Street which originally housed a merchant exchange, a forerunner to the New York Stock Exchange. It is understood the family had owned the former office building for many years, but felt it could be put to better use as a luxury hotel in the middle of the financial district. Potentially a good omen is that it sits between Water and Pearl Streets.
Hospitality is not necessarily a totally new venture for the company made famous by its pearls as second generation family member Marilynne Paspaley AM is founder and MD of Pinctada Hotels and Resorts that operates four and five-star properties in the Kimberley region of Western Australia. Marilynne is the daughter of Nicholas Paspaley who founded the pearl business more than 80 years ago.
The founder’s son, Nick Paspaley, the hotel owner and executive chairman of Paspaley group of companies said: “The Wall Street Hotel is a natural continuation of our family legacy, bringing 100-years of travel and trade, global cultural experience, adventure and refinement to transform the historic Tontine Building into a new oasis of charm and comfort. A one-of-a-kind gem for New York’s famed financial district.”
The 180-room boutique hotel has individually designed guest rooms and suites in the style of classic New York residences. Rooms range from king to multi-bedroom suites. There’s also 446m2 of versatile meeting and event space, including a 195m2 light-filled ballroom atop the building with views across Manhattan. Highlighting its cultural theme, it has vibrant colours, spacious lounges with curated libraries and is filled with art.
The hotel’s signature restaurant, La Marchande, described as the brainchild of renowned Michelin-star chef John Fraser, offers “reimagined” French brasserie cooking.
Wall Street Hotel is part of the Brandman Agency portfolio of hotels that includes the Arizona Biltmore, Como Hotels, Ritz Carlton Dorado Beach and the Grand Hotel Tremezzo on Lake Como.
