From the May issue: Financing trouble is drastically eliminating the number of hotels under
construction in New York City, causing at least 10,000 formerly planned
rooms to be stuck in the pipeline — or canceled altogether. This month, The Real Deal
consulted developers, hotel chains, public records, and other sources
connected to hotels in the city’s pipeline and found at least 43 of
them — with an aggregate of some 10,150 rooms — are delayed or
completely axed. The most common hurdle? Lack of financing.
10,000 rooms on ice
May 05, 2009 05:06PM
By Sarah Ryley
