Brooklyn Hotels 40% Cheaper Than Manhattan

The Times did a round-up of the Brooklyn hotel boom that’s taken place over the last few years and while most of it will be old news for Brownstoner readers, there were some interesting stats in the article. The average room rate in Brooklyn in May of this year was $147 versus $255 in Manhattan. The lower cost of land in Brooklyn is the primary driver of the boom, according to one consultant, but once the hotel is built it costs just about as much to operate it in Brooklyn, which is tough given the relative lack potential business customers in the borough. The ideal hotel from an economic perspective is right next to six giant office towers, said Sean Hennessey, chief executive of Lodging Advisors. Brooklyn does not have an office tower or corporate base the way Manhattan does. Still, corporate drones aren’t the only ones who can pay the bills. The Hotel Le Jolie in Williamsburg reports lots of rock bands enjoying its views of the BQE, while sister joint Hotel Le Bleu on 4th Avenue claims the Beach Boys as its star guests.
As Everyone Else Discovers Brooklyn, So Have Hoteliers [NY Times]