Condo conversions help hotel industry flourish

September 22, 2005 12:00AM

New York’s hotel industry is flourishing because of tighter inventory, some say. The occupancy rate for the yar is close to 90 percent and the average room rates are up by more than 40 percent over the past four years. And it doesn’t hurt that more than 3,000 hotel rooms have been lost to condo conversions. more [Sun]

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