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NYC Hotels Will Triple Their Hotel Room Occupancy In 2025
New York City is experiencing a major hotel boom, with roughly 5,700 rooms set to open in 2025. This number is three times more than the previous two years combined and far outpaces other markets nationwide. With the completion of major iconic hotel renovations and the introduction of new boutique brands, these new room openings will play an essential role in reshaping the city’s hospitality landscape.
Establishing NYC As A Leading Tourism Hub
NYC has long been known for its reputation as a tourism hotspot. 65 million tourists visited the Big Apple in 2024 alone. That’s not even factoring in the millions of other corporate travelers who come to the city’s conferences, tradeshows, business meetings, and more.
However, the city could always use more lodging to keep up with the ever-growing demand for accommodation. This recent development will help expand the city’s capacity to host more visitors than ever before.
“The ongoing development in New York City is not surprising given the market’s status and its high performance in recent years,” said Isaac Collazo, STR’s senior director, analytics. “With major sources of leisure and business travel, New York reported the highest occupancy level of any U.S. market in both 2023 and 2024. There are more rooms in the planning and final planning stages, pointing to continued investment in the long term.”
Which NYC Hotels Are Part Of This Expansion?
Dozens of new and renovated hotels will be a part of this year’s room expansion, including:
- Waldorf Astoria New York – 375 rooms
- Kimpton Midtown NYC – 529 rooms
- Xadia Hotel – 173 rooms
- Feana New York – 120 rooms
- Plaza Athénée Nobu Hotel & Spa – 145 rooms
A Competitive Edge in the Hospitality Market
Aside from the rooms themselves, NYC’s new and existing hotels are focused on creating more experiences to attract a diverse range of travelers. Boutique brands are focusing on their interior design and personalizing the guest experience, while legacy brands continue to draw even more guests by expanding their amenities and giving those who visit a more classic luxury experience.
How The Hotel Room Expansion Impacts NYC’s Economy
More hotels and accommodations can further boost the city’s economy. Tourism already makes up around 4.5% of the city’s GDP, and this expansion will only add more jobs in construction, hospitality, and other local industries that benefit from tourism. Many of these hotels are also on the higher end, which attracts more high-value tourism and generates millions more in tax revenue for the city.
Looking Ahead
2025’s hotel room growth is a massive plus to the city’s hospitality industry and will further boost the local economy. As new room constructions are in their final stages, anyone visiting NYC can look forward to even more options as they enjoy their time in the city.
As Mayor Eric Adams puts it, “New York City remains a dynamic hub for tourism, drawing tens of millions of visitors from around the globe. The five boroughs have everything you need, from conference halls to theatres to restaurants and hotels — New York City remains the heartbeat of innovation, culture, and opportunity.”
