Lodging Development Group Publishes 2011 Manhattan Lodging Report

24 hotels, containing 5,500 guestrooms, opened in 2010

64 properties, comprising 11,000 guestrooms, are under construction, approved or in active permitting

ALEXANDRIA, VA, April, 2011 -- Lodging Development Group, the industry’s leading source for hotel real estate intelligence, has released its 2011 Manhattan Lodging Report. Based on actual permit and construction activity, the report identifies 64 properties comprising nearly 10,500 guestrooms that are now under construction, approved or in active permitting in New York City's Manhattan borough.

The report also identifies each of the 24 hotels, comprising over 5,500 guestrooms, that opened during 2010, as well as 44 additional properties with the potential for 11,000 new hotel rooms that are either planned or on hold.

The full 2011 Manhattan Lodging Report provides complete profiles for more than 130 properties, including detailed status and contact information for project owners, developers, architects and builders.

Click here for an interactive map showing the location and status of all projects in the Manhattan pipeline.

Twenty-four hotels opened in Manhattan in 2010, containing 5,519 guestrooms. This figure roughly equals the number of rooms added to the Manhattan market in the two preceding years combined. There are now 31 hotels under construction, containing a total of 5,718 guestrooms. Of these, 17 properties (2,632 rooms) are expected to open in 2011, and 14 additional hotels (3,086 rooms) are expected to open in 2012-2013. 

Three additional projects, representing a total of 320 rooms, have completed foundation work but are now halted due to zoning or financing issues. Two of those hotels are expected to resume construction this year.

Sixteen properties, comprising 2,048 guestrooms, have building permits or approved building plans but have not started construction. An additional 15 properties, representing 2,727 guestrooms, are in various stages of permitting for new hotel construction, expansion or conversion.

Since 2006, permits have been filed to build or convert an additional 39 properties (8,270 rooms) for hotel use. These properties have had no permit activity in the last calendar year and are considered to be on hold.