New York Hotel Makeovers

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2045

New York hotels are facing a boom in renovations and makeovers after lower capital spending from the steep economic downturn. For hotels that had become rundown and were sold, properties such as the Milford NYC near Times Square and the New York Palace hotel, where the former Le Cirque restaurant space is being overhauled.

 

New research by a Hospitality, Tourism and Sports team confirms the upswing in modernizing travel accommodations on everything from linens to new facades. The United States hotel industry is expected to spend $5.6 billion on capital expenditures this year, exceeding the most recent record of $5.5 billion set in 2008. He estimated that one-fifth of hotels would receive such improvements this year — up from 15 percent in a typical year. In New York alone, about a quarter of the city’s hotels are expected to be upgraded.

Hotel management companies and franchisers wanted to ensure that their brands were associated with quality and not cutting back on service or appearances.

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