The Real Deal New York

From the February issue: Although Indian-Americans own 37 percent of all hotels in the U.S. – and more than 50 percent of the country’s low-budget stock – they are only now starting to make major inroads into New York’s hotel market. New York’s steadily increasing ranks of Indian hotel owners are tied to the city’s recent proliferation of low- to moderately priced hotels. At the same time, some Indian-American hotel owners are branching out from budget stock and opening boutique properties, such as Hersha Hospitality’s Duane Street Hotel in Tribeca. By Adam Piore more