Luxury oriental hotel group Shangri-La has admitted it is close to signing a deal for its first property in New York.
A spokeswoman for the group confirmed discussions were ongoing but added: "Nothing is official, as negotiations are still underway."
It is currently unclear where the site is, and whether the hotel would be owned by Shangri-La or run under a management agreement.
The group, which has management contracts for most of its properties but does own some flagship sites, recently completed a management agreement for a hotel in Chicago, which is scheduled to open in 2009.
Last year saw Shangri-La announce its first properties in Europe and Japan.
By Emily Manson