Pop! That’s the implosion of New York’s seemingly indestructible hotel industry, which this January had one of its worst months of the past six years.
According to Smith Travel Research, an industry research firm based in Nashville, Tenn., the citywide occupancy rate in January was 59.5 percent, an annual decrease of Read More
Robert De Niro and his partners in the posh Greenwich Hotel probably never wanted a mob scene in the lobby, anyway.
The fancy Tribeca lodge is geared toward people who value their privacy, like Mr. De Niro himself. It’s supposed to be a quiet retreat where guys like Patrick Dempsey can lift weights in Read More
Some hoteliers buck received wisdom, taking chances on fringe neighborhoods in far-away boroughs (see Sam Chang). Others trust blindly in the perpetual worth of a brand called Manhattan (see Sam Chang?). Only time will tell which group the following three developers fall into, all of whom filed plans with the Buildings Department in the past Read More
Location: You were recently quoted in Crain’s saying that the hotel business might now be facing ‘the biggest decrease since the immediate aftermath of 9/11.’ Can you quantify this for us?
Mr. Fox: It’s a little tough to judge in the short term. Generally, we’re down anywhere from 10 to 12 Read More