In the last seven years, New York City has added 30,000 new hotel rooms, bringing the total to 102,000. By 2016, that number will jump to 110,000. And the rooms are not sitting empty. The developer of the Marriott at 1717 Broadway said, "We still see occupancy in the high 80 percents into the low 90s in the Times Square area," but he noted that "with the proliferation of hotels of every type, rates are struggling." [NYP]
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