New York: Down, but definitely not out

When you think of STR’s top U.S. hotel markets, New York is one that always comes to mind. It’s generally thought of as having strong occupancies and high rates, in good times and in bad. Because this current economic crisis is affecting everyone across the board, we’re going to see how the New York market has been affected and to what extent. It’s no surprise New York consistently has brought in rates well above US$200 for the past couple of...