JUNE 26, 2013
HOTEL DEVELOPER HIDARY LOOKING FORWARD TO NIGHTS ON THE TOWN IN NEW HOT DISTRICT
- Real Estate Weekly
Featuring Abraham Hidary and David Marriott on the New SpringHill Suites
For most of the last 20-odd years or so, the Manhattan hotel market was not one to see much growth in the supply of hotel rooms, and with good reason.
In 1993, New York City saw 1,946 homicides and 86,001 robberies, and that was a 2.5 and 5.7 respective percent drop from the year before.
Compare those crime numbers with 2012, when there were 414 total murders. Crime is down so much in fact, that on November 26, there was not a single shooting, stabbing or homicide recorded. Lower crime has helped to bring in a record 52 million visitors last year and has driven construction of new hotels, more than 70 opening between 2008 and 2012, according to a market study by HVS Global Hospitality Services and NYU Preston Robert Tisch Center.
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