January 25, 2006
Price of NYC hotel expected to climb 12 pct in 2006
The average hotel room rate in Manhattan last year rose to $234 per night, a 16 percent raise over 2004 -- and that price will jump at least 12 percent this year, PKF Consulting told the Los Angeles Times.
That rate differs from the $207 per night determined earlier this month by the Hotel Association of New York City.
And while the NYC official tourism bureau has been touting the 5,000 hotel rooms coming online by the end of 2007, PKF calculates that 1,500 beds were lost in the city last year. Some hotels have been torn down to make way for condos, while others are reopening as co-tels -- half condo, half hotel -- including The Plaza, Gramercy Park Hotel and the Hard Rock.
The LA Times flags one reassuring segment to watch -- limited-service hotels, including a Holiday Inn Express under construction in Brooklyn and a Hampton Inn in the Financial District. The Hampton Inn, which had been accepting reservations for a Jan. 1 opening, has pushed that date back to Feb. 28, according to the hotel's web site.
(Link found via the LA Times travel blog, The Daily Traveler.)
Earlier: NYC's best new hotels are co-tels - even Hard Rock
The Drake to get razed; The Mark going condo - Post
A year after groundbreaking, Harlem's Marriott idles
2005 average room rate was $207 - NY Hotel Assoc.
Average NYC hotel room rose to $292 in November
Blue Moon, Marriott among NYC hotel openings
Plaza to reopen in 2007 with new 'condo-hotel' rooms
Few bargains at new 'mid-priced' NYC hotels
Money-losing Pierre hotel to close for renovations
NY hotel rates rising, average night headed to $225
New Brooklyn luxury hotel slotted for Smith Street
Holiday Inn Express under construction at Gowanus
1,500 new hotel rooms coming to NYC in 2006 - study
NYC's lost 3,300 hotel rooms to condo conversions
Hotels going condo can't keep pace with demand
Hotel rates to jump 14 pct in NYC in 2005, study predicts
January 25, 2006 12:31 PM in Hotelology
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