Waldorf Astoria, Park Ave. lobby/ architectural rendering Waldorf Astoria, Park Ave. entrance, lobby/ architectural rendering

NEW YORK CITY—Demand will continue to outpace supply, including the new hotels still underway nationally, says CBRE Hotels’ Americas research group. In their recently released “September 2018 Hotel Horizons” report, CBRE predicts 2018 will end with a hotel occupancy rate of 87.1% and in 2019 will continue strong, with a slight dip to 86.3%.

Hotels in New York City are also going strong, with the brokerage and real estate advisory firm forecasting revenue per available room increases of 3.5% for this year, and .8% growth for 2019. The average daily rate is projected to increase by 2.9% overall for 2018 and by 1.8% next year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.