Trending
By the numbers: NYC hotel supply balloons
Number of rooms has grown by 30% to 35% in the last five years
From the December issue: In his decades-long tenure, Tom McConnell has never seen this many hotel rooms spring up in NYC. Over a five-year period, the city has seen a 30 to 35 percent increase in supply, said the head of Cushman & Wakefield’s Global Hospitality group. The city could have 140,000 hotel rooms in the next few years — up from 93,254 rooms in 2009. Part of that boom is being driven by the growth in the outer boroughs. Travelers are filling those rooms voraciously. [more]