New York City hotel's renovation coincides with return of travelers

06/21/2004 |

New York City's Metropolitan Hotel, which was purchased last year by an investment group, is getting a top-to-bottom renovation, and as tourism and business travel in the city start to recover, the hotel's future is looking bright. Revenue per available room in New York is expected to rise to $152 in 2004 from $132 last year, and occupancy rates should hit 82%, according to PricewaterhouseCoopers.

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