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Article: New York's haute hospitality remains resilient.
- Article from:
- Real Estate Weekly
- Article date:
- September 23, 2009
- Author:
CopyrightCOPYRIGHT 2009 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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Take a walk around Times Square any day of the week, at any hour of the day, and you're going to see hordes of happy tourists. Even after turning the streets into wide pedestrian promenades, it's still difficult to move around because of all of our visitors.
In addition, there are hundreds of office workers from the surrounding buildings enjoying the great urban outdoors. But for every native New Yorker there are dozens out-of-towners.
Last year at this time, forecasts were understandably gloomy. In addition to the local economy, we were anticipating the loss of significant tourist dollars, and all the new and exciting hotel and restaurant projects were ...