Hotel Management Online has found that Brooklyn is attracting more hotel guests now and is regarded as a strong alternative to Manhatten in NYC. According to a report from Real Estate Weekly, the strong surge in supply shows record growth. Occupancy rates are phenomenal as well. It appears that NYC visitors are avoiding Manhatten altogether, pointing to exciting trends for hotels and hotel management companies in NYC.
NYC hotel property management and development companies have taken the cue. There are 27 new hotels in the pipeline in Brooklyn. Notable ones are the Hotel Bossert in Brooklyn Heights and the Pod Hotel in Williamsburg.
STR analytics show that in general, national August 2014 occupancy is the highest since 1995. This applies to NYC areas as well. As hotel property management and development companies focus on hotel opportunities in NYC in changing times, Brooklyn and other cities previously considered as first cousins in hospitality are increasingly becoming more important.
As visitors increase in Brooklyn, this will create other related opportunities that benefit from more hotel guests in NYC, such as restaurants, convention facilities and so on. It will be exciting to watch how NYC hotel property management companies benefit from these market changes.
Tags:
NYC Property Management Companies, Property Management Companies NYC
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