5,000 new hotel rooms for New York

Fuelled by record visitor volume, a thriving economy and significant additions to the tourism product, New York City will add nearly 5,000 new hotel rooms to its current inventory of 70,723 by the end of 2007. Hoteliers are developing properties that represent exciting trends in the city’s hotel product, such as chic budget, sophisticated boutique and comfortable value-priced hotels. Development patterns show the strength of downtown Manhattan, Harlem, Brooklyn and Queens as visitor destinations, with 18 properties scheduled for construction or renovation. In addition to new properties from the Marriott, Hilton and Starwood brands, celebrity hoteliers including Andre Balazs, Ian Schraeger, Jason Pomeranc, Vikram Chatwal and Robert De Niro are investing in New York’s thriving tourism product. New York City is expected to close 2005 with an 87% occupancy rate and 22 million room nights booked, an increase of 1 million over 2004. “Many of the new properties, in diverse locations such as Staten Island, Tribeca, the Lower East Side, Queens and Harlem, will anchor the start of economic and business development in these new neighbourhoods and will introduce global visitors to new experiences in the Big Apple,” said NYC & Company president and CEO Cristyne Nicholas. Properties under development include the 357-suite Residence Inn by Marriott, boutique 90-room hotel 6 Columbus Circle, the 150-room Hilton Garden Inn Tribeca, the 80-room Rockefeller Center Hotel and the 152-room Four Points by Sheraton Soho Village.

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