Hoteliers eye Brooklyn, despite modest occupancy

Number of hotel projects in the works nearly double since last year

New York /
Feb.February 27, 2014 02:38 PM

Builders are pursuing more hotel projects in Brooklyn this year than in 2012, in spite of a lackluster hotel market in the borough, according to figures by hotel data-crunching firm Smith Travel Research.

There are 22 new hotel projects with 2,208 rooms currently in the works in the borough of Kings, up from 14 projects and 1,370 rooms last year, according to the New York Observer.

The hoteliers are big-name groups inlcuding U.K.-based InterContinental Hotels Group, which is erecting two hotels in Downtown Brooklyn, and the Toll Brothers and Starwood Capital, which have joined forces to build 193 rooms of luxury lodging in Brooklyn Bridge Park.

At the same time, the Brooklyn hotel occupancy rate dropped more than ten percent last month from January of 2013 to just over 66 percent, according to STR data reported by the Obeserver. However the senior vice president of STR, Jan Freitag, told the Observer not to take the drop too seriously, calling the decline a “one-time outlier” because the comparison is made with 2013’s inflated occupancy rates after Hurricane Sandy. [NYO] — Angela Hunt


Related Articles

arrow_forward_ios
NYC hotels hoping for holiday business swell likely to be disappointed
NYC hotels hoping for holiday business swell likely to be disappointed
NYC hotels hoping for holiday business swell likely to be disappointed
Clockwise from top left: 2875 Morningside Heights, 38-21 12th Street in Long Island City, 46 Nevins Street in Brooklyn (Google Maps)
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Feil Organization plans 43-story DoBro tower
Feil Organization plans 43-story DoBro tower
Feil Organization plans 43-story DoBro tower
The Collective's Reza Merchant and 1215 Fulton Street in Bedford-Stuyvesant (NLA, The Collective)
Co-living startup The Collective to lose another Brooklyn development project
Co-living startup The Collective to lose another Brooklyn development project
Brookfield weighs $1.5B hotel portfolio sale
Brookfield weighs $1.5B hotel portfolio sale
Brookfield weighs $1.5B hotel portfolio sale
Ty Warner and the Four Seasons at 57 East 57th Street (Getty, Google Maps)
Midtown’s Four Seasons caught in tiff between owner and hotel brand
Midtown’s Four Seasons caught in tiff between owner and hotel brand
Mark Siffin of Maefield Development and 20 Times Square (Maefield)
Maefield’s Times Square Edition hitting auction block
Maefield’s Times Square Edition hitting auction block
Shuttered Courtyard by Marriott LaGuardia up for sale
Shuttered Courtyard by Marriott LaGuardia up for sale
Shuttered Courtyard by Marriott LaGuardia up for sale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...