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Rooms to grow for borough hotels Occupancy rates are keeping up with room boom beyond Manhattan.
January 28, 2015
Taking a page from the film Field of Dreams, developers have been lining the city's outer boroughs with a growing number of independent and brand-name hotels, convinced that if they build them, guests will come.
So far, they have: Outer-borough occupancy rates between January and November 2014 ran as high as 81%, according to STR, a hospitality-industry research firm. Most hotel markets operate at 65% occupancy, while Manhattan is "pushing" 83%, said Sean Hennessey, chief executive of Lodging Advisors, a Manhattan-headquartered consulting firm.