 |
| |
April 15, 2010
Hotel Supply Growth Could Hit Full Stop
By Paul Bubny
NEW YORK CITY-The debut last week of the Trump Soho hotel- condominium here marked the latest in a series of openings that Lodging Development Group says will bring 32 new properties to Manhattan by the end of this year. In 2011, the borough will see five additional openings. After that, well...not much at all.
“In 2012, there will be very close to zero,” Jack Elsner, principal of the Alexandria, VA-based development research company, tells GlobeSt.com. “For anything to open in ’12, it would have to be under construction now, and there really isn’t anything starting.”