Hotel market on the mend, report says.After a worrisome lull, reports suggest that New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City's hotel market is poised to recover. With several openings on tap, the climate is markedly less dire than it was only a few months ago even if the development of new hotel properties remains limited. Data released by PKF PKF Peace Keeping Force PKF Pannell Kerr Foster (accounting firm) PKF Park Falls, Wisconsin (Airport Code) Consulting showed that New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ended 2001 with 74% of its hotel rooms occupied. PKF projects that the end of this year will reflect a 70% occupancy rate citywide. "We are beginning to see the planning for new projects take shape," said John Fox, of PKF Consulting. "The more recent data suggests that occupancy is on a rebound. And the rates for January and February were not as bad as people expected they would be," he said. Another encouraging sign, according to Fox, is that people are once again doing deals. Several hotels are slated to open in the coming months, among them a Howard Johnson's in Jamaica, a Ramada ra·ma·da n. Southwestern U.S. 1. a. An open or semienclosed shelter roofed with brush or branches, designed especially to provide shade. b. An open porch or breezeway. 2. Inn on Lexington Ave, and a Hampton Inn in northern Chelsea. In downtown Brooklyn, the New York Marriott is about to embark on a $53 million expansion. Many hotels that were forced to shut down after Sept. 11 are planning to reopen soon. According to NYC NYC abbr. New York City NYC New York City & Co, the city's tourism bureau, a total of 1,528 rooms were closed after the attacks. "It looks like we're in recovery mode," said Fox. |
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