the Manhattan hotel industry was favorable to everyone in the first eight months of 2010.
(PRWEB) October 04, 2012
New York, NY (PRWEB) November 14, 2010 –- Domain Properties, a well-known name among buyers and sellers in the Manhattan hotel industry, has released its latest report about NYC hotels.
Their recent edition 'Manhattan Hotel Industry in NYC - 2011 NYC Hotel Market Forecast and 2010 Overview - Buyers & Sellers – Third Edition' focuses on the future of the NYC hotel industry but also analyzes how the industry fared in 2010. According to Domain Properties, NYC hotels flourished in 2010 and the industry can expect more of the same during 2011 and beyond.
Their report notes that "the Manhattan hotel industry was favorable to everyone in the first eight months of 2010." Domain Properties says that NYC is getting ready to welcome 46.7 million visitors by the end of 2010. They list NYC hotels planned for the last quarter of 2010 as well as into 2011-2012.
Before the beginning of the new year, more hotels will be built in Lower Manhattan, Brooklyn, and Queens. Domain Properties is moving into the future with confidence. They see significant development on the way in 2011 for the Manhattan hotel industry.
The knowledgeable team at Domain Properties explains in their report, "Thirty-one properties (7,523 rooms) are expected to be developed in New York City between 2010 and 2011. That number is 10.7% of the 2009 NYC room count. By the end of 2011, Manhattan will have 77,943 hotel rooms. Boutique hotels will account for 48% of that development with full-service hotels making up 19% of the proposed properties."
Domain Property's '2011 NYC Hotel Market Forecast' makes encouraging predictions about future activity in the Manhattan industry. The detailed report suggests that "RevPAR is predicted to increase by 4.6% by the end of 2010, almost 10% in 2011, and a repeat of double digit percentages in 2012 and 2013. It is believed that NYC RevPAR will return to its peak level in 2014."
No doubt, Domain Properties knows the Manhattan hotel industry. They work 'strictly confidential' with all parties in the NYC hotel industry including buyers and sellers, hospitality investment groups and real estate developers, as well as foreign investors. For sellers, they provide pro forma projection and expert negotiation (hotel management, hotel performance analyst).
Hotel owners always get a CNDA (confidentiality non-disclosure agreement) from each potential principal brought to the table by Domain Properties. The CNDA is set up prior to releasing the hotel profile to a buyer. Hotel sellers choose Domain Properties because sellers know that this reputable firm will work 'strictly confidential' on their behalf. Buyers know that Domain Properties works only with principals. Their experienced team can also offer advice about hedge funds and REITs, 1031 Exchange Properties and other real estate investment opportunities in New York City
About Domain Properties:
Domain Properties, a professional team of industry experts, are changing the face of New York City real estate.
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Hotels at Domain-Properties.com