A NYC hotel glut has boosted deals in the industry

Hotel prices in the city have slid even as tourism surges.
Prices have fallen thanks to an oversupply of rooms, according to a
New York Post report. In the past three years, prices of hotel
rooms have fallen 30 to 50 percent. That’s the result of a
building boom that’s oversaturated the market. In 2007, there
were 73,692 hotel rooms and 357 hotels, the report said. By 2017,
that climbed to 115,532 rooms and 632 […]

Source: FS – All – Real Estate News 2
A NYC hotel glut has boosted deals in the industry