Manhattan Hotel Supply Growth to Continue Through 2010

Twenty-one hotels opened in Manhattan in 2009, representing 3,808 guest rooms, up from 1,732 new rooms opened in 2008. There are now 37 additional hotels under construction, containing a total of 8,012 guest rooms. Of these, 32 properties (6,796 rooms) are expected to open in 2010, and five additional hotels (1,216 rooms) are expected to open in 2011. Properties were considered to be under construction only if excavation, foundation or vertical construction were active at the time of inspection. All inspections took place in March 2010. 

Three additional projects, representing a total of 320 rooms, have completed foundation work but are now halted due to zoning or financing issues. 

Twenty-nine properties, comprising 5,002 guest rooms, have building permits or approved building plans but have yet to begin construction. An additional 53 properties, representing 10,316 guest rooms, are in various stages of permitting for new hotel construction, expansion or converstion. Of these, 36 properties (6,328 rooms) had permit activity in 2009 and are considered active. The remaining 17 properties (3,988 rooms) had no permit activity in the last calendar year and are considered to be temporarily on hold. 

Finally, there are seven additional projects that have been announced or are in early planning but for which building plans have yet to be filed. These include two large, future projects: the approximately 1,250-room Javits Convention Center Hotel and a possible 1,200-room hotel at the Hudson Yards West site near the Javits Center. 

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