New York City’s hotel industry continues to see significant growth, with the trend of new properties opening in the boroughs beyond Manhattan of the Bronx, Brooklyn, Queens and Staten Island continuing as well. Approximately 40 percent of the City’s 2011 hotel openings will be in boroughs beyond Manhattan. Since 2008, 42 percent of the new properties built in New York City have been located in boroughs beyond Manhattan, with the majority in Queens (22%), followed by Brooklyn (15%), Bronx (3%), and Staten Island (2%). New York City is the fifth-largest hotel market in the US, but has the most rooms under construction. It is on track to add approximately 5,850 rooms in the boroughs beyond Manhattan in just over four years. The City continues to see increased demand from international markets, including Australia, South Korea and Brazil, for both leisure and business travel. New York City’s hotel inventory offers a wide range of options for all types of visitors, with occupancy rates remaining above the national average. In 2010, the City’s occupancy rates averaged 85%, with an ADR of $255.
Recent and upcoming hotel openings include:
Aloft New York Brooklyn
Best Western Plus Prospect Park (opened December 2010)
Fairfield Inn & Suites New York Brooklyn
Sheraton Brooklyn New York Hotel (opened June 2010)
Four Points by Sheraton Long Island City (opened May 2011)
Z Hotel New York
Best Western Staten Island
Many Manhattan neighborhoods—specifically Harlem, SoHo and Lower Manhattan—have also seen an influx of new hotel openings, including the Aloft Harlem, Mondrian SoHo, The James New York, Sheraton Tribeca New York Hotel, W New York – Downtown and the Doubletree New York City – Financial District. Growth continues to be strong in Midtown Manhattan as well, with the City’s largest hotel in more than a decade, the 669-room Yotel, scheduled to open its doors next month in Times Square.