There are positive signs on the horizon for the New York City hospitality market with figures showing glimmers of good news and new hotels opening. According to Steve Hood, senior vice president of information technology at Smith Travel Research, 15 of the top 25 hotel markets saw an uptick in occupancy for the second week of October, to the overall tune of 27.4 percent. In Manhattan alone, the occupancy rate rose 5.6 percent. In Manhattan, the average room rate decreased by 15.4 percent to $253.61. Even though the city registered a decline, the average room rate was up 27 percent from January’s $199.09 average. Nationwide, occupancy rose 6.5 percent to 63.8 percent. The average daily rate increased 6.3 percent to $119.09 and the revenue per available room rate jumped 13.2 percent to $76.04. With the euro at record highs and the holiday season soon upon us, expect an increase in visitors to the Big Apple. These visitors will have the option of a whole host of newly completed hotels. [more]