New hotel planned for Times Square area

A developer the New York Observer identified as Abram Sabo filed plans
last Thursday with the city’s Department of Buildings to build a
14-story, 150-room hotel at 612 West 47th Street, between 11th and 12th
avenues. The developer declined to say what hotel chain he was working
with. During the first week of December, New York City hotels
experienced one of the largest decreases in revenue among all top 25
U.S. markets, earning 22 percent less than in the same timeframe last
year, down to $283.01 per available room, according to the latest
figures.