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Article: Luxury hotels making New York City irresistible to tourists.(Commercial Sales & Leasing)
- Article from:
- Real Estate Weekly
- Article date:
- August 2, 2006
- Author:
CopyrightCOPYRIGHT 2006 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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This year, New York City is poised to set records for both domestic and overseas tourists. The number of people who come to New York from places nationwide is expected to increase by 600,000 to more than 43 million.
International tourism is forecasted to reach 7.2 million--a 5% jump (source NYC & Company). Of course, this news is welcomed by retailers, restaurateurs and hoteliers.
Lincoln Property Company is planning to create a new condominium hotel on the same block as the Peninsula Hotel, just off Fifth Avenue at 55th Street. This most glamorous address will help counteract our current hotel room shortage.
Another luxury hotel condominium ...