John Lam came to New York City in 1969 as a Chinese immigrant, finding work as a wage-laborer in the garment industry. Today, he is one of the city’s most aggressive real estate developers, with 10 office, residential and hotel projects in the pipeline.
One of the most aggressive developers, John Lam of the Lam's Group, plans to put as many as 1,200 hotel rooms into inventory over the next several years. Mr. Lam, who is also a garment industry executive, already owns and operates three hotels in the city, including the 18-month-old Four Points Sheraton in Chelsea at 158 West 25th St.
The Lam's Group had originally planned to build a 250-room Sheraton Four Points Hotel on the site at West 40th Street and Eighth Avenue. Now it will also build a Marriott Fairfield Inn adjacent to the Sheraton. The hotels will share a rooftop restaurant and lounge. Construction is expected to begin before the end of this year, and the hotels should open in 2007.