NYC hotels poised for recovery?

With 44 new hotels set to open in New York City this year, industry insiders are banking on a rebound for the luxury travel market, which took a beating in the recession, according to Fox Business News. The five boroughs will welcome 7,561 new hotel rooms, experts say, with existing hotel hotspots in the city, like Gansevoort Meatpacking, which opened in 2004, seeing occupancies upwards of 95 percent. Michael Achenbaum, president of the Gansevoort Hotel Group, which recently opened the Gansevoort Park Avenue hotel at 420 Park Avenue South, said that New York has an edge in the travel industry. “We’re seeing a pick-up in corporate travel and meetings nationally, but not nearly the pick-up we saw in New York,” Achenbaum said. [Fox Business News]