Number of Hotels Triples in Lower Manhattan
The number of hotels in Lower Manhattan has tripled since September 11, 2001, and the number of rooms in the district has increased by more than 60 percent, the Alliance for Downtown New York announced today.
“The volume of investment pouring into Downtown’s hospitality industry is further proof that Lower Manhattan is now New York City’s most desirable and dynamic location,” said Elizabeth H. Berger, President of the Downtown Alliance.
Opening this year were the 169-room World Center Hotel in June at 144 Washington St., the 112-room Holiday Inn Express in May at 126 Water St., and the 253-room Andaz Hyatt Wall Street in January at 75 Wall. The 220-room W New York—Downtown & Residences will open within weeks at 123 Washington St.
With the opening of the W, Lower Manhattan will have 17 hotels—and 3,693 rooms—south of Chambers Street. Additionally, three hotels with a combined 680 rooms are under construction. Once completed, the total number of rooms below Chambers will reach 4,400. On 9/11, Lower Manhattan had five hotels and 2,300 rooms.
Lower Manhattan’s hotels were approximately 86 percent occupied in the fourth quarter of 2009. Almost 6 million people a year visit Lower Manhattan.
“Tourism is thriving in Lower Manhattan.” Berger said. “Business travelers remain a significant market element, but the growth of leisure visitors and special events shows that Lower Manhattan is a destination of choice in the region, nationally and around the world.”