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Travel Discussion
Reply to "NYC avg nightly hotel rate hits record high: $417/night"
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[quote=Anonymous][quote=Anonymous]It’s also an issue of supply and demand. NYC cracked down on AirBnBs, some hotels are being used for migrants and the city made it harder to build new ones. [/quote] NYC currently has 50 hotel projects under development: https://www.constructiondive.com/news/new-york-hotel-construction/717614/#:~:text=New%20York%20leads%20all%20other,rooms%2C%20according%20to%20Lodging%20Econometrics. NYC is a tough city to build, period. But clearly plenty of investors-developers see opportunities. [/quote]
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