A Building Boom in New York Hotel Rooms | The New York Times
Defying the sluggish global economy, New York’s hotel sector is growing at a record-breaking pace.
In 2011, developers added 4,404 new hotel rooms to the city’s existing 74,025 rooms, an annual increase of 5.9 percent and the highest on record, according to Smith Travel Research and the commercial real estate brokerage Cushman & Wakefield.
Supply is projected to increase by 3.5 percent in 2012 and 4.1 percent in 2013. From 2005 to 2010, hotel room supply grew by 16.2 percent, for an average of only 3.24 percent annually.
