More hotels coming our way in New York!

I just read an interesting article on the New York Times website.

The lodging markets in New York and Houston were particularly ripe several years ago for hotel growth. In New York, occupancy levels were 85 percent from 2004 through 2008, and the average daily room rate rose 86 percent in those years, said Bjorn Hanson, a clinical associate professor at the Tisch Center for Hospitality, Tourism and Sports Management at New York University. Developers, he said, believed that these conditions “created a safe, secure investment environment.”
As a result, this year’s hotel expansion is the largest in New York, in terms of new hotel openings and the addition of rooms, Mr. Hanson said. The new hotels represent most of the major chains, according to Smith Travel Research.
Marriott, for instance, will open five hotels in the city under the Courtyard and Fairfield Inn brands, it said. InterContinental will open four hotels, including a 592-room InterContinental in Times Square, and others under the Holiday Inn Express and Staybridge Suites brands; and Hyatt will open four hotels, two under the Andaz brand and two under the Hyatt Place brand, Smith Travel Research said.
Starwood says it is opening six hotels under the Sheraton, Four Points by Sheraton, Aloft, W and Element brands. InterContinental declined to comment on its expansion plans, and Hyatt would not confirm the opening of the two Hyatt Place hotels.

Great, that sounds like we are going to have many more options and a lot more rooms available. However, knowing the New York Tourism market - this is just going to be a temporary relief, especially during this recession - after it's over it's gonna be tough to find a reasonably priced room in Manhattan again.