Hospitality 3 is a Manhattan and New Haven, CT-based hotel and real estate development company founded in 2003 by its principal, Paul McGowan. Hospitality 3 focuses on developing and operating lifestyle-oriented projects in established and emerging markets. Specifically, the company specializes in repositioning existing assets and developing new ground-up projects. Hospitality 3 actively develops and operates projects on its own behalf and also offers development and advisory services to private and institutional investors, developers and hotel companies. Hospitality 3 generates tremendous value for its clients and investors by incorporating thoughtful, high quality and cost efficient designs into its projects. In 2008, Hospitality 3 launched Study Hotels, a lifestyle concept designed to serve university campuses and cultural centers. With the successful opening of The Study at Yale, located on Yale University's campus, Study Hotels is posed to expand the concept to other key markets throughout the United States and current has several projects in development. Additionally in 2009, Hospitality 3, in joint venture with Ironstate Development, constructed the W Hoboken Hotel and Residences, featuring 225 guest-rooms, 40 private residences, a Bliss Spa, restaurant and nightclub. Hospitality 3 also recently completed several projects managed on behalf of clients including the St. Regis Princeville, Kauai, the W Retreat & Spa - Vieques Island, Puerto Rico, and has several independent boutique hotels currently in planning.