Hotel Investor Market update for New York City - Market Recovery in NYC Hotels
Considering their vast experience in the NYC hotel industry, a large client base trusts predictions and advice given by the Domain Properties team. With 2011 underway, Domain Properties is delighted to be able to update buyers and sellers of New York Cit
New York, NY January 11, 2011 -- After examining and organizing all the latest relevant data, Domain Properties, experienced brokerage firm for OFF MARKET New York City hotels, has provided its first update about the 2011 market. Confidence in New York City hotels is the underlying theme. In addition, this experienced team is expressing optimism about the entire U.S. hotel industry.
New York, NY January 11, 2011 -- After examining and organizing all the latest relevant data, Domain Properties, experienced brokerage firm for OFF MARKET New York City hotels, has provided its first update about the 2011 market. Confidence in New York City hotels is the underlying theme. In addition, this experienced team is expressing optimism about the entire U.S. hotel industry.
http://www.domain-properties.com/Hotel_Real_Estate_New_York_City.cfm
According to Smith Travel Research, New York City topped the year-end list of U.S. markets with growth rates for new and planned hotel development. Domain Properties points to the overall positive outlook about NYC real estate as well as the intense interest expressed by foreign buyers.
In a recent 19th Annual Survey released by the Association of Foreign Investment in Real Estate (AFIRE), New York City was named as the number one choice for foreign investors in real estate during 2011. The Big Apple ousted London -- leader in the previous AFIRE survey. The influence of the Manhattan market was noted in the December PFK-HR 2010 Hotel Horizons® forecast report. Within its December 21, 2010 release of "Investors' Strategy for Growth in Manhattan Hotels," Domain Properties commented on the PFK-HR predicted 6.4% RevPAR increase.
"If New York City is removed from the equation, the RevPAR forecast drops from 6.4%-5.4%," states the Investors' Strategy for Growth in Manhattan Hotels.
At present, more than 30 properties are under construction in New York City. By 2013, there will be another 5,200 new hotel rooms In the Big Apple. Within the next two years, this thriving metropolis will have more than 91,000 choices for guests of NYC hotels.
Exciting developments on the pipeline (either in 2011 or later) are the Mondrian SoHo, the aloft in Brooklyn and the pod Yotel Hotel, Hyatt 48Lex, the Habita Hotel at the High Line, and Vikram Chatwal Hotels Group's second Dream Hotel, as well as New York's first Conrad hotel in Lower Manhattan. Conrad Hotels & Resorts, Hilton Worldwide's global luxury brand, is moving into New York's Financial District.
Other properties on the horizon are the Doubletree NYC Financial District and the aloft Harlem as well as the first Element brand hotel in NYC. Popular midscale brands include Courtyard, Holiday Inn Express, Fairfield, Comfort Inn, and Four Points by Sheraton.
Domain Properties has a wealth of knowledge about all recent or future developments on the New York City hotel scene. The latest list includes the multi-million dollar cutting-edge renovation of the Sanctuary Hotel (Portland Square Hotel) in the Time Square area. As well, there is a new 'jewel' in the NYC hotel dynasty. The Jewel Hotel is a 139-room, full-service boutique hotel at 11 W. 51st Street at Fifth Avenue opposite Rockefeller Centre.
The 172-room Hotel Indigo in downtown Brooklyn is an interesting property. This V3 Hotel includes more than 150,000 sq ft of retail space behind a glass facade designed by Canadian Karl Fischer. As well as an Indigo in Chelsea and Bryant Park, IHG is planning to build four more hotels in New York City.
Another superb NYC hotel is the 160-room NoMad Hotel at 1170 Broadway at 28th Street. Operated by GFI Hotels, this luxury hotel will be the first LEED certified renovated hotel in New York City. Two Trees Management Co. is in charge of a 73-room new hotel planned for Whyte Avenue in Williamsburg.
To learn more about the strong recovery of the NYC hotel industry, to invest in a New York City Hotel or to have your hotel represent on an OFF Market basis with Domain Properties, contact Haim Yagen. Discover the latest news for buyers and sellers of New York City hotels at http://www.domain-properties.com. Find 'everything you need to know' about Manhattan hotels at one convenient location.
About Domain Properties:
Domain Properties, a professional team of industry experts, who are changing the face of New York City real estate. Their experienced staff specializes in sales and leasing of NYC properties.
Domain Properties specializes in Direct and Discreet Sale of Hotel Properties in New York City, Commercial Properties, Office Buildings, Residential Buildings, triple net income properties and 1031 exchange real estate in NYC.
This NYC Company is a trusted source for people who want to buy, sell, or rent Manhattan apartments and condos. Domain Properties buys and sells hotels in New York City, Long Island City, Brooklyn NY, Queens and beyond. With their expertise and knowledge, Domain Properties always discovers the best deals in New York City real estate.