new york city lodging market
New York City Market Continues to Lead the U.S. Construction Pipeline
LODGING ECONOMETRICS | April 30, 2021
PORTSMOUTH, NH – April 30, 2021 – In the recent U.S. Construction Pipeline Trend Report released by Lodging Econometrics (LE), at the close of Q1‘21, New York City continues to hold the lead amongst U.S. markets for the most projects in the U.S. construction pipeline with 145 projects/24,762 rooms. Other U.S. markets that follow are Los Angeles with 144 projects/23,994 rooms, Dallas with 135 projects/16,260 rooms, Atlanta with 132 projects/18,264 rooms, and Orlando with 98 projects/17,536 rooms. New York City has the greatest number of projects under construction with 110 projects/19,457 rooms. Following New York City with the highes...
HVS Market Pulse: Perspectives on the New York City Lodging Market 2019 – a Review of the Supply Side
Anne R. Lloyd-Jones | June 24, 2019
By Anne R. Lloyd-Jones Supply growth has been the dominant headline for the New York City lodging market over the past decade. The number of hotel rooms in the city increased from 66,000 in 2007 to 99,000 in 2018, a 50% increase in inventory. Another 15,000 rooms are under construction or proposed; if all of these rooms are built, the city’s inventory will have increased by 75% in a 16-year period. Increases in demand kept pace with supply growth through 2018. However, in the first quarter of 2019, supply outpaced demand for the first time in the current cycle. While there are a number of factors that influenced these results, it is cle...
Analysis Reveals Costly Impact of New York City’s Plan to Curb Hotel Development in M1 Zones
LW Hospitality Advisors | April 25, 2018
NEW YORK, April 25, 2018 -- Leading hotel industry analyst LW Hospitality Advisors has announced the findings of a comprehensive M1 Zoning Hotel Market Analysis completed in advance the City's decision whether to certify the Proposed Action as early as next week. The report identifies the potential unintended economic and social impacts for New York City if the proposed special permit to limit new hotel development in M1 zoning districts is adopted by the New York City Department of City Planning (DCP). As indicated by one of the report's authors, Robert Van Laer of LW Hospitality Advisors, if the special permit is granted, New ...
HVS Market Pulse: Perspectives on the New York City Lodging Market
Anne R. Lloyd-Jones | December 22, 2016
By Anne R. Lloyd-Jones With average rates declining by 1.5% in 2015 and on track to drop at more than double that pace in 2016, the New York City lodging market has received a lot of negative press of late. Between the significant increase in supply and the lackluster average rate performance, the once golden market is now viewed as tarnished. Some hotel owners are selling assets, preferring not to ride out the current downturn; RLJ recently sold two hotels in New York, noting "While we continue to believe in the New York City market over the long term, in the near term, these sales reduce our exposure as this market goes through a soft...
