Today, New York City’s hotel market is among the nation’s leaders in post-COVID recovery. Along with a strong influx of visitors, hotel owners and operators are expected to benefit from three market-specific factors that will limit hotel supply while driving room rates higher: stricter regulations on short-term rentals, a newly implemented zoning text amendment and special permitting process, and both the temporary and permanent closure of tens of thousands of hotel rooms. However, labor negotiations and casino development may put pressure on rates through higher operating expenses and increased supply, respectively.
Our Valuation & Advisory team explores each of these factors and more in our latest report.
