Hotel Development in NYC New York City Briefing Sheet – Winter Update 2013
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Updated for ITB 02/25/13-dk/mw Hotel Development in NYC New York City Briefing Sheet – Winter Update 2013 Hotel Development in NYC : 2011 to 2016 and Beyond 1 Hotel development in New York City, a positive force for the city’s travel and tourism industry , is growing faster than the national average and adding significant new properties and revitalized accommodat ions to neighborhoods and destinations across the five boroughs. Design, sustainability, affordability and amenities are all present in the mix as boutiques, luxury and super -luxury, lifestyle brands, and family-friendly properties are developed in each of the city’s five boroughs –from The Bronx to Staten Island , in Queens, Brooklyn and Manhattan. Four new hotels have opened since the start of this year and many more are gearing up for 2013 openings. This report covers over 110 properties as well as 19 new listings since our last update in January, 2013 and there are more on the horizon. We look at new buildings, exciting conversions of offices, historic buildings and other sites as well as th e renovations slated for many of the city’s best known institutions. Since 2006 the city has added 74 hotels and a net increase of over 13,500 rooms to our supply. Today the city has over 92,000 rooms in active inventory. Large and small, branded and independent, meeting friendly or intimate, full service or select service, in the center of things or in quiet neighborhoods; the city now has choices for all tastes. Whether traveling in groups or on their own, the business traveler and leisure visitor w ill find plenty to choose from established hub areas and new locations: Downtown Brooklyn, Long Island City, Union Square, NoMad/Flatiron, Chinatown/Lower Eastside, midtown East and West, as well as The Bronx and Staten Island. Alongside hotel development we also see exciting new neighborhood development with shopping, d ining, entertainment and cultural attractions emerging. The pipeline for new developments kept flowing throughout the past six years, since 2006, and now, looking forward to 2016 and beyond, we see even more activity coming to light. There are over 80 n ew build projects in this list. Between January 2011 and December 2012 we saw openings at 36 hotels bringing on over 6,200 rooms. Over the next three years, we are tracking close 100 projects, with 74 already listed here, and slated to add over 15,000 more rooms to the citywide inventory of visitor accommodations. Even as we finalized this edition, we have learned of a number of other projects including a new Firmdale Hotel in midtown we st, a new 200 room eco-designed hotel being developed at the Brooklyn Bridge Park, and plans to convert the SONY building on Madison Avenue to mixed use residences and hotel. New York City hoteliers are always looking for ways to improve the visitor experience. Over the next year many hotels will be undertaking extensive renovations and redesign. These include The Loews Regency Hotel on Park Avenue, the N ew York Palace, and the Doubletree Times Square, as well as others. 2013 2014 & Active Room Inventory 2006 2007 2008 2009 2010 2011 2012 forecast beyond Thousands of Rooms in NYC Hotels 72.6 73.3 76.4 80.9 86.6 89.7 92.96 98 106.5 (Year End) Staten Borough Hotel Development Total Manhattan Brooklyn Bronx Queens Island Hotels open January 2011 through March 2013 41 23 8 10 Hotels in pipeline to 2016 70 55 6 3 5 1 111 78 14 3 15 1 1 General sources: NYC & Company member hotels, PKF Consulting, PWC Lodging Research Network, Ernst & Young Lodging Investment Advisors Manhattan Report, VMS International, HVS International, Smith Travel Research, The Real Deal, The New York Times, Condé Nast Traveler, Business Travel News among others. No ne is responsible for the reports included here. 1 NYC & Company as of February 2013 Editor’s Note: This report is prepared for the travel trade to aid in planning and product development. It is for reference only. Many of the City’s new and proposed hotel projects are provided below. It is not intended as a complete list. As plans continue o change frequently, please contact hotels directly for additional information. At the time of publication, the list of hotel properties currently under construction was still expected to open on or near their scheduled or projected completion dates. The vagaries of construction permitting and the pressures of securing financing throughout the construction cycle may have an effect on the actual dates; however, the properties listed here were already permitted, and in most cases demolition and/or excavation had begun. NEW additions to the list are indicated. Unless otherwise noted properties are in Manhattan. Hotels marked with an asterisk (*) are new build. Under Development for 2013 and beyond (listed in chronological order of expected opening) Holiday Inn Express —177 rooms* 538 W. 48 th Street Projected opening: March 2013 McSam Hotel Group LLC is developing this property which will be managed by Gemini Real Estate Advisors LLC in the restaurant-rich Hell’s Kitchen area and near the theater district. Holiday Inn NYC/Lower East Side —132 rooms* 150 Delancey Street Projected opening: March 2013 M & R Hotel Group will manage this property on the dynamic Lower East Side near galleries, clubs, restaurants and shopping. Hyatt Place Midtown South —185 rooms* 52 W. 36 th Street Projected opening: March 2013 Chesapeake Lodging Trust with McSam Hotel Group LLC is developing this property just off Fifth Avenue in midtown on a street providing multiple, affordable hotel options for leisure visitors. Fairfield Inn & Suites —234 rooms* 325 W. 33 rd Street Projected opening: March 2013 One of five new Fairfield Inns coming to New York City over the next few years, this midtown Manhattan property will add family-friendly and business traveler accommodations to the city. Best Western Plus —94 rooms with 4 suites* 48-50 W. 36 th Street (between 5 th & 6 th Avenues) Projected opening: March 2013 LeTap hotel developers are expanding their reach into the midtown market with this new build hotel off Herald Square. A 17-story, 94 room hotel adds midscale potential to this convenient neighborhood close to shops, Madison Square Garden, Javits and the Empire State Building. There will be a ground floor bar. SpringHill Suites by Marriott —173 rooms* 25 W. 37 th Street Projected opening : April 2013 Developed by Hidrock Realty this will be the Manhattan debut of the Marriott select service brand. The 19-story new build property will feature suites in the area bordered by Fifth Avenue, the fashion district, Broadway theaters and Bryant Park. Comfort Inn —89 rooms and suites* 548 W. 48 th Street Projected opening: April 2013 M & R Hotel Group will manage this property in the dynamic and visitor friendly Westside of Times Square. NYC & Company Winter Update 2013 2 Courtyard by Marriott —168 rooms 71 W. 35th Street Projected opening: April 2013 Located in Manhattan’s Fashion District, this is a redeveloped office building in a mixed-use neighborhood being developed by Hidrock Realty. Hyatt Union Square —178 rooms* 132 Fourth Avenue (at E. 13th Street) Projected opening: May 2013 Hyatt Hotels Corporation and Hersha Development Corporation have signed a franchise agreement for this development in the Union Square neighborhood. With a restaurant and lounge located in the historic ground floors, the property adds modern new room to a centrally located, vibrant neighborhood at the crossroads of Union Square, Greenwich Village and the East Village. Refinery New York —197 rooms 63 W. 38th Street Projected opening: May 2013 Located in the heart of the fashion district, this boutique property is a conversion of the 100-year-old Colony Arcade building which served as a hat factory until the 1980s. The hotel will feature industrial chic design and will have a signature restaurant and rooftop lounge. Bronx Opera House Hotel —60 rooms 436-442 149 th Street The Bronx Projected opening: summer 2013 The hotel will occupy the former Bronx Opera House, a Beaux Arts building in the South Bronx that once played host to performers such as George Burns and Houdini. This project, in The Hub Shopping District, is being developed by The Empire Hotel Group which currently operates seven hotels in New York City. The Quin —200 rooms 101 W. 57 th Street Projected opening: June 2013 This re-imagined luxury hotel is opening in an 18-story pre-War building which first opened its doors in 1929 as the Buckingham Hotel. The hotel, just steps from Carnegie Hall, will feature a signature restaurant, spa and specialty suites. Crowne Plaza JFK —330 rooms 138-10 135 th Street Jamaica, Queens Projected opening: mid 2013 This former hotel site has been closed for five years and is being completely renovated and reflagged by Gemini Hospitality. The new hotel will support visitors to the borough as well as airport traffic. Hyatt Place Midtown East —235 rooms* 206 E. 52 nd Street Projected opening: June 2013 McSam Hotel Group LLC is developing this property. Fairfield Inn & Suites NYC —90 rooms* 95 Henry Street at Pike Street Projected opening: June 2013 A new 7-story property is being developed at the crossroads of Chinatown, the Lower Eastside and the East River waterfront development. NYC & Company Winter Update 2013 3 Best Western Staten Island —105 rooms* 290 Wild Avenue Staten Island Projected opening: mid 2013 Marlton House —TBD 5 W. 8 th St. Projected opening: mid-2013 BD Hotels is converting a vintage former hotel building into a new small boutique hotel on the corner of 5 th Avenue and 8 th Street in the heart of Greenwich Village.