New York Meetings and Events

For a while there we were thinking, is it just us, or are there an astonishing number of hotels springing up all over the city these days? Well, on Monday, the venerable New York Times confirmed our suspicions by reporting that by the end of 2010, New York City will have roughly 12% more hotel rooms than it started with. In the article, "Even More Room at the Inn," reporter Jane Levere writes that New York, despite the lackluster economy, will open the largest number of hotels in the country this year, with a whopping 46 properties.

So why are all these New York hotels opening now, when it seems to make the least economic sense? The answer is pretty simple: when the economy started to slide, hoteliers developers and contractors were in so deep financially, and so far along in the process, the only real option was to forge ahead. In other words, it was too late to turn back.

The silver lining is that their unfortunate timing may prove to be a bonanza for planners interested in holding their event in the city this year. Through the end of 2010, planners can expect to benefit from the slightly flooded market of hotel rooms available by taking advantage of what we expect will be some very planner-friendly pricing. As all good things must come to an end, though, we'd recommend locking down your bookings now before the new hotel boom ends in 2011 and rates creep back up again.

When booking this year, be on the lookout for new hotel offerings from most of the major players, including Marriott, Hyatt, InterContinental and Sheraton. Make the most of the buyer's market while it lasts!