By: Andrew Posil, Director of Sales, Hospitality
New York’s hotel market has reason to be optimistic. Although there are concerns regarding the increasing number of hotel rooms on the market and rising operating costs, there are also many reasons to be confident in the market’s long-term viability. With so much product delivering in the next thirty-six months, how can owners and investors remain positive? The answer is that rock-solid fundamentals will sustain the market as new product comes on-line, and that the long term demands of the market will exceed the near-term jump in supply.
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