Why N.Y.C. Hotel Rooms Are So Expensive Right Now
Baua Electric
MAY 25, 2024
The conversion of hotels to shelters has sharply decreased the supply of rooms just as tourist demand has risen, nearly to prepandemic levels, and is projected to match a record high. It’s all supply-and-demand related, and the migrant rooms have reduced the amount of supply.” Lesser, a co-founder of LW Hospitality Advisors.
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