90,000 Hotel Rooms in NYC?

New York City will reach a record 90,000 hotel rooms by the end of this year, representing a 24 per cent increase since 2006. This information was given by Michael R Bloomberg, Mayor, New York City. He was speaking at the newly opened Z NYC Hotel in Long Island City, where he was joined by Michael Gianaris, State Senator, New York City, George Fertitta, CEO, NYC & Co and Henry Zilberman, Owner, Z NYC. Bloomberg also mentioned that more than 7,000 rooms are in the pipeline that will add to the city’s hotel inventory, with an average 40 per cent of new openings taking place in boroughs other than Manhattan. This included Long Island City, Queens.“More people want to visit New York City than ever before and with a record 90,000 rooms, we have great places for them to stay. That is good news not just for tourists, but also for the city’s economy. Our tourism sector employs 323,000 people and those jobs are now increasingly located outside Manhattan, as tourists want to visit all of the city’s great neighbourhoods,” he said.

As you know, same was being done in Orlando - the number one leisure destination in USA for years. They kept on approving more zoning for hotel rooms, and now more than half the hotels are facing foreclosure. When can you have enough hotel rooms? This is a time to place down a strategy so that hoteliers do not hurt other hoteliers. Even if Occupancy remains the same, Average rate will decrease due to increased competition. As a consumer, I am loving the idea of more hotels; As a hotelier, I despise it. Let me know your thoughts.