Onslaught of new hotels in New York City raises questions

03/29/2011 | HotelNewsNow.com

More than 30 new hotels, many of which are independent, are scheduled to launch in New York City this year, prompting questions about whether there will be too much supply. Jan Freitag, vice president of global development at STR, said the situation shows New York is in a good position. "It is showing very, very healthy fundamentals. The growth rate of supply is so strong here, but at the same time, there doesn't seem to be any rate resistance or other foreboding signs," Freitag said.

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