Lower Manhattan sees uptick in hotel activity

Nearly 3,300 rooms divided across 17 new projects are coming to the area

TRD New York /
Sep.September 30, 2014 04:20 PM

Hotels are booming in Lower Manhattan.

An increasing number of hotels are in the works in the area and activity at existing hotels is strong, according to data from lodging industry firm STR cited by the New York Observer. Roughly 3,292 rooms divided across 17 projects will be added to the area in the near future. This is a 30 percent increase in hotel count — last year there were 13 projects — and a 35 percent increase in rooms, which was 2,431 in 2013.

Silverstein Properties is planning to open a Four Seasons at 30 Park Place. Aloft Manhattan Downtown is scheduled for January 2015 On Ann Street and two Courtyard by Marriott hotels are also slated to open.

The Lower Manhattan occupancy rate rose 1.5 percent to 84.4 percent, according to the Observer. The average daily rate rose 0.6 percent and the number of available rooms was up 1.7 percent. Total room revenue was up 3.8 percent to 219.5 million. [NYO] — Claire Moses


Related Articles

arrow_forward_ios
Greenwich Hotel, Four Seasons at 30 Park Place and POD Hotel Brooklyn (Credit: Greenwich Hotel, Thirty Park Place, Google Maps)

Four Seasons, 204 layoffs, as businesses hemorrhage jobs

Four Seasons, 204 layoffs, as businesses hemorrhage jobs
Yuh-Line Niou, Grace Lee and 250 Water Street (Credit: Google Maps)

Howard Hughes project at 250 Water Street triggers primary race

Howard Hughes project at 250 Water Street triggers primary race
Four Seasons President of Residential Paul White and (clockwise from left) 706 Mission Street in San Francisco, 9000 W. 3rd Street in Los Angeles and Twenty Grosvenor Square in London

Your condo is ready: Four Seasons pushes into residential

Your condo is ready: Four Seasons pushes into residential
An aerial view One World Trade Center in Lower Manhattan (Credit: iStock)

On anniversary of 9/11, the World Trade Center office market is now helping propel Downtown

On anniversary of 9/11, the World Trade Center office market is now helping propel Downtown
49 Maiden Lane (Credit: Google Maps)

Karfunkel family inks $200M refi for Lower Manhattan tower

Karfunkel family inks $200M refi for Lower Manhattan tower
There were almost 30 deals last week in Manhattan’s luxury market

There were almost 30 deals last week in Manhattan’s luxury market

There were almost 30 deals last week in Manhattan’s luxury market
The city is scrapping plans for a new 40-story lower Manhattan jail

The city is scrapping plans for a new 40-story lower Manhattan jail

The city is scrapping plans for a new 40-story lower Manhattan jail
Pan Am refinances downtown portfolio

Pan Am refinances downtown portfolio

Pan Am refinances downtown portfolio
arrow_forward_ios

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

Loading...