Sleeping Spaces: Lower Manhattan Lodging Market Picks Up

Rendering of a guestroom at Fairfield Inn & Suites, at 161 Front Street. (Glen Coben Architecture & Design)

Rendering of a guestroom at Fairfield Inn & Suites, at 161 Front Street. (Glen Coben Architecture & Design)

While portions of lower Manhattan were still in recovery mode from Superstorm Sandy last year, the downtown hospitality market appears to be picking up this year.

There are 49 hotel projects in the pipeline in Lower Manhattan as of March, up from 43 year-over-year, according to data provided by lodging industry benchmarking services firm STR to Commercial Observer. The room count follows suit, up to 9,697 from 7,906 at the same time last year. Read more at the Commercial Observer.