IBM sells Palisades Conference Center to HNA Group

PRESS RELEASE

HNA Group has completed the acquisition of International Business Machines’ (IBM) 106-acre, 450,000-square-foot Palisades Conference Center, located 20 miles north of Manhattan, as a resource and training center for HNA Group’s global executive team. The conference center property is located at 334 Route 9W Palisades, New York 10964. Terms of the transaction were not disclosed.

The conference center will now be known as the HNA Palisades Premier Conference Center. HNA has retained Crescent Hotels & Resorts to manage the property on its behalf. HNA Group is a China-based global multinational with interests in airport services, transportation, real estate, financial services, leasing, tourism, hotels, and logistics. HNA has a 200,000-strong global workforce.

HNA Group was attracted to Rockland County, and Palisades in particular, because of the community’s proximity to New York City and the well-educated workforce in Palisades and the surrounding communities, corporate officials said. HNA Group said that as its business expands in North America, the Group will need talented, dedicated employees to help fuel its growth International Business Machines (IBM) plans to maintain a presence at the property.

The Palisades Conference Center specializes in providing financial institutions, universities and services organizations with training and education facilities, as well as hosting customer events. HNA Group intends to maintain the current character of the property and is committed to operating the conference center in a manner that is sensitive to the needs of the Palisades and Rockland communities.

In addition to training events for its global workforce, HNA plans to host cultural and social events for its new neighbors.