NEW YORK

13th November 2018 | Marriott Marquis

SPEAKER

Get Industry Insights

We invite keynote speakers and high profile panelists to share the latest industry trends.

Jordan Harry

Founder

StudyFast

Floran Kollenz

Chief Development Officer

25hours Hotels

Rolf W. Schmidt

Founder & CEO

TOPHOTELPROJECTS

John Fareed

Managing Director

Horwath HTL

PANEL DICUSSION
Important Topic

Rot in the Big Apple? Dark side of New York’s hotel industry

In the city that never sleeps, there has been tremendous growth in hotel supply of late with thousands of rooms added to the local market.

The TOPHOTELCONSTRUCTION database shows 7,120 rooms currently under construction with nearly 3,000 in the planning phase to be ready in the next couple of years.

However, despite average New York room occupancy rates at 85 percent, operators have faced pressure on room rates and experienced declines in revenues. Furthermore, beloved old stores, cafes and even homes are being redeveloped to make way for buildings that house short-stay guests who neither live nor work in New York.

There is increasing demand for hotel rooms in New York City. But with more hotel construction and development in the pipeline, what should investors, developers, operators and owners look out for?

Is there a risk of supply outstripping demand? What can be done to prevent another drop in room rates? Are hotels changing the face of the city too much?

Andrea Belfanti

Executive Director

ISHC

Richie Karaburun

Clinical Assistant Professor

New York University

Jonathan Jaeger

Managing Director

LW Hospitality Advisors

Tobias Busse

Hotel Real Estate Professional

Melissa Cornfeld

Vice President Hospitality Investments

GFI Capital Resources Group

CREATIVE SPARK
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