Hotels tripled Downtown since 9/11

The Andaz at 75 Wall Street and Elizabeth Berger

The hospitality industry is expanding rapidly in Lower Manhattan, according to economic development organization Alliance for Downtown New York, which reported that the number of hotels in the area has tripled since Sept. 11, 2001. The number of rooms in the area, meanwhile, increased by 60 percent during the same time period. Elizabeth Berger, president of the alliance, said that while business travelers have kept the hospitality market in the area stable, an increasing number of tourists have helped spur hotel expansion. “Business travelers remain a significant market element, but the growth of leisure visitors… shows that Lower Manhattan is a destination of choice,” Berger said. Among the new hotels in the region are the World Center Hotel at 144 Washington StreetAnd The Andaz Hyatt Wall Street at 75 Wall Street. TRD

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