Non-Manhattan boroughs drive 40% NYC’s hotel growth

Non-Manhattan boroughs drive 40% NYC’s hotel growth

Boroughs beyond Manhattan are generating 40% of New York’s hotel development, according to its tourism board. New builds in Brooklyn, the Bronx, Queens and Staten Island are said to account for two fifths of the city’s hotel openings this year, with around 5, 850 rooms to be added by 2014. These include hotel brands such as Comfort Inn, Aloft, Sheraton and Best Western. “In recent years, hotel development in New York City has stayed ahead of the rising demand for accommodation in all five boroughs and at all price points,” said Robert Steel, deputy mayor for economic development for New York. “Between January 2008 and December 2010, the city experienced the most rapid and successful hotel-building boom, with an almost 24% increase in accommodation, including many new properties opening in boroughs beyond Manhattan, in Brooklyn, Queens, Staten Island and the Bronx. During this development, occupancy rates and ADR have remained strong.” Last year the city received 48.7 million visitors and its occupancy rates averaged at 85%. This has increased to estimated 88% for last month, with an average daily rate of

Mark Elliott
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Mark Elliott
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