Development Watch: 237 Duffield Street

Yes. NYC is among the most under-served hotel markets in the U.S. Even with the economic slowdown, there will be business for this property.

Posted by: East New York at October 8, 2008 3:30 PM

"New York hotels still were strong up to the point of the Wall Street collapse, with revenue per available room up 5 percent to 10 percent from 2007, mostly driven by rate increases but also by a small occupancy increase, he said.

"When you run occupancy like New York has been running, we were essentially sold out 200 to 250 nights a year," Fox said. "It leaves a lot of room for some softness and for it still to be pretty strong."

http://www.btnmag.com/businesstravelnews/headlines/frontpage_display.jsp?vnu_content_id=1003852885

Also:

http://www.nysun.com/new-york/hotel-occupancy-rate-rising-data-show/83685/

Posted by: East New York at October 8, 2008 4:01 PM