Still, the question remains—what will happen to the already-existing hotels that have shuttered and might stay closed for good? Andrew Cuomo, to convert them into affordable housing. It could be a partial retail expansion. It could be a partial assisted living facility or creative office, flex office—all these different things. For the most part though, hotel owners are sitting tight until the landscape with coronavirus becomes a bit clearer, even if that means staying shut the whole time, which comes with its own source of issues.
With all of these considerations, the decision to reopen the hotel, hold on to the property or eventually sell, all comes down to how deep-pocketed the owner is or whether they have significant capital backing.
And depending on how many hotels do end up closing permanently, like The Roosevelt Hotel, Hilton Times Square, and the Omni Berkshire Place, the impact on the city could be huge. In , the city received 3. And with the city in desperate need of a cash influx, that means everything from teachers, to law enforcement, to social services could be impacted.
The hotel industry also employed about 55, people before the pandemic. All these things have a cumulative effect. Lisa Kim Forbes Staff. Updated Oct 4, , pm EDT. Follow me on Twitter. Send me a secure tip. Lisa Kim. Totally there are hotels in this area. There are a number of ways to figure this but the bottom line is that NYC has by far the worst shortage of hotel rooms in the world. Considering even conservative increases in visitors not likely as the new WTC opens soon , even with new records in new rooms added, the shortage will almost inevitably worsen and, in comparison to other cities known for shortages.
NYC will lose ground. There are various estimates as to the number of hotels but, without getting references out right now, just a search on hotels. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam.
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