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Hotel Development in NYCís Outer Boroughs

From USA Today:
One-Fourth of New Hotels Are Outside of Manhattan
It used to be that tourists wouldn't dare cross a bridge or drive through a tunnel to get off Manhattan Island and into the city's four other boroughs. But with land so expensive in Manhattan, hotel developers are turning to the outer boroughs for less expensive property. And tourists are following for the less expensive hotel rooms ó sometimes 30% less than what rooms cost in Manhattan. Since 2008, 162 hotels have been built or renovated in New York City, according to NYC & Company. That's added 28,150 rooms to the city's hotel supply. More than a quarter of the new properties, 27%, have been in boroughs outside Manhattan. That represents about 17%, or 4,850, of all the rooms added. Click here for the full story.


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