The former Trans World Airlines terminal at New York’s Kennedy Airport could see new life as a hotel under a proposed plan.Photography:Hulton Archive/Getty images

JetBlue Airways Corp. is angling to get into the hotel business, joining the growing ranks of developers and investors looking for lodging opportunities inside major U.S. airports.

The low-cost airline and its partner, New York-based hotel developer MCR Development LLC, are in advanced negotiations with the Port Authority of New York and New Jersey for the rights to turn the iconic Trans World Airlines terminal at Kennedy Airport into a modern hotel, according to people familiar with the matter.Talks could still fall apart, these people said, but the MCR and JetBlue partnership has emerged as the preferred bidder and is in exclusive discussions with the Port Authority. MCR would be the majority investor.

The possible deal is the latest sign that airport hotels are emerging as a sweet spot in the lodging sector as developers and investors seek new ways to tap top-tier cities without paying premiums for downtown addresses......Continue Reading

> via wsj.com/europe