Although there's no construction site to go by since The Ace Hotel is converting SRO housing into what will be their hip, happening pad, we've got to judge from all of the recent press (W Magazine, Monocle, Apartment Therapy) and their open bookings engine that all systems are go for an early March opening.
Turning the focus to the all-important New York nightly rates, the $99 for a bunk or "cheap queen" at the Ace means that they are setting themselves up to directly challenge the other big SRO-turned-hotel in town, The Jane. A few months ago, $209 looked to be the starting rate for the Ace, but whether it's the economy's fault or a jump-off for advertising, the price drop definitely means one thing: the Jane and the Ace are about to engage in a battle of the $99 room rate...
