|Hotel Building High in New York City|
|Key Words||Occupancy rate, price, glut|
New York City has the highest hotel occupancy rate in the nation - 83.2 percent, up 4.7 percent in the last year. This reflects the 28 percent growth in visitors since 1995. The average hotel room price is $189.33 this year, up from $175.98 a year ago.
In response, twenty hotels are under construction or have recently been completed. They will add 4,700 rooms to the existing total. A wide variety of hotels are opening. Some will charge high prices, such as the Bryant Park, which will have 24-hour butler service, 100% cashmere throw blankets, 400-thread-count Egyptian cotton sheets, and high-speed Internet wiring. Others will be budget hotels. For example, the new Red Roof Inn near the Empire State Building offers some rooms at $89.99. Complimentary continental breakfast, free local calls, and in-room coffeemakers are also provided.
Lodging experts do not expect the additional rooms to cause a glut. The number of visitors keeps on growing.
(Updated November 1, 2000)
|Source||Kitty Bean Yancey, "In NYC, more rooms for a night at any price," USA Today, October 6, 2000.|
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