National
Job recovery sputters, but hospitality & leisure add hiring
A weaker-than-expected month for job gains had one bright spot, and it’s the same sector that has been leading...
Hotel Market
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NoMad Hotel heads back to the auction block
The owners of the NoMad Hotel — who shelled out big bucks a few years ago to avoid foreclosure at the 11th hour — have their backs up the wall once again. Billionaire investor...
Jeff Sutton will replace Midtown retail space with hotel
Developer Jeff Sutton is betting big on the revival of New York City’s tourism industry. The founder of Wharton...
Outlook for hotels improves — from awful to merely bad
New York City hotels won’t be able to party like it’s 2019 until 2025. Occupancy rates in the city...
National
Sonder will merge with SPAC to go public
The SPAC attack is back for a San Francisco-based hospitality startup. Sonder confirmed Friday that it will go public by merging with a SPAC backed by billionaires Alec Gores and Dean Metropoulos. The company...
National
Bonkers season on tap for summer vacation rentals
After a year of putting travel plans on hold, Americans are eager to embark on their next trip. But...
Self-storage company buys dev site from Home Depot
A self-storage company bought a Queens development site from Home Depot and landed a construction loan for a planned...
Developers already eyeing commercial-to-resi conversions
New York legislators are still figuring out what a comprehensive commercial-to-residential program could look like in the city, but...
National
Struggling hotel company handing Brookfield the keys
Out of options, a struggling hospitality trust is handing over its control to Brookfield Asset Management through the bankruptcy...
Heavy hangover: Air rights purchased for massive cantilever
An architectural oddity is set to rise above Bryant Park. H Hotel purchased air rights for $11 million to...