As Manhattan filled with tens of thousands of new hotel rooms during this building boom, hotel operators played a frustrating waiting game. Even with the flood of new supply coming online, hotel occupancies over the past four years have continued to rise. So, hoteliers were confident that once the delivery of new product slowed, they could push pricing upwards. Finally, during the first quarter of this year, average daily room rates in Manhattan grew, […]
source https://therealdeal.com/2018/06/07/pricing-power-finally-returns-to-manhattans-hotels/
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