Hotels

Hotel activity is continuing to outpace new supply, and owners are looking to quality property management teams. We sat down with RAR Hospitality for an EXCLUSIVE interview to find out more.

Commercial construction totaled $23.8 billion between 2013 and 2017, yielding a total of more than 73 million new square feet of space. The last three years showed the strongest growth, with each year topping $5 billion and 16 million square feet of new commercial construction.

New York City's hotel occupancy rate reached 86.6% in 2017 and is projected to hit 86.6% in 2018, far exceeding the national average of 61.6%.

The private equity company plans to reconfigure and renovate the 191-room hotel.

Campbell joined McCarthy in 2011 and has played a major role in building the preconstruction teams in Houston and Dallas.

The 44-story hotel will bring an additional 441 rooms and 3,000 square feet of retail to Hudson Yards.