The Real Deal Miami

Crystal ball for 2010 shows cheap rates for travelers

By Michael Stoler | December 21, 2009 07:32PM

From the New York Web site: Things are looking up for the New York City hotel industry, which is
celebrating a rebound in occupancy from earlier this year. Manhattan
was the only market in the country, besides New Orleans, to report a
double-digit occupancy, up 10.5 percent this year to 88.1 percent,
according to data from Smith Travel Research for the week ending Dec.
12. While hotel occupancy in Manhattan has risen dramatically from levels
as low as 55 percent, the average daily rate continues to be lower than
record levels achieved in 2007. Nevertheless, the increase in occupancy represents a significant
improvement to a market where more than 30 new hotels have opened
during the year. Many of these new limited-service and boutique hotels
including Hotel Indigo, Ace Hotel and Crosby Street Hotel have registered occupancy at nearly 90 percent. From a national perspective, travelers are going to have it good next year.