Market Report: New York City
By Sean Hennessey | hotelnewsnow.com
As the saying goes, the bigger they come, the harder they fall. And the New York City hotel market, which had started to achieve new peaks of performance, has tumbled badly since October 2008. Almost to the day that Lehman Brothers collapsed, the NYC hotel market has been weakening. But the weakness in the financial markets only tells part of the story. This article will examine the recent trends in New York hotel market conditions and provide some insight into what the future might hold.