De Blasio to hotel developers –– good riddance! - Real Estate Daily Beat

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(Credit: Pod Hotel)

The Department of City Planning is moving forward with plans to require special permits for all new hotels in zoning districts where hotel construction is permitted as-of-right, The Real Deal reported.

• Some hotel owners quietly rejoice: Supply glut now controlled. According to the DOB, there were 30,331 hotel rooms either under construction or in the late planning stages as of October. City Planning will host a hearing Jan. 22.

• Pandemic has been devastating enough: A recent report from the Hotel Association of New York City found that only half of hotel owners and general managers believe the industry will recover and that about 200 hotels in the city had either temporarily or permanently closed as of late September. Occupancy during the second quarter of the year was down 58.5% compared to the second quarter of 2019, while the average revenue per available room was down 82% year over year, Crain’s noted.

• REBNY responds: President Jim Whelan: “It is unfathomable that the Mayor would put forward a proposal to make it virtually impossible to build new hotels and bring back good jobs for New Yorkers. At a time when the Mayor should be focused on driving a strong and equitable recovery, he is advancing a policy that will make it even more difficult for the hospitality industry to recover.” [TRD+Crain’s]

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