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N.Y. downtown hotel market inches toward rebound. (Destinations: New York).

Publication: Business Travel News
Publication Date: 12-MAY-03 		Format: Online - approximately 1044 words
Delivery: Immediate Online Access

Article Excerpt
With the reopening last week of the Millenium Hilton in lower Manhattan, the last of the hotels shuttered on Sept. 11, 2001, is back in business. While neither the downtown hotel market, nor the hotel market of the city overall, has rebounded to pre-recession levels, downtown hotel and corporate housing managers last month reported that business gradually has improved, with certain market segments even showing unexpected strength.

In addition, the Lower Manhattan Development Corp. and the Port Authority of New York and New Jersey in February announced the chosen design for the redevelopment of the World Trade Center site, which includes plans for a hotel with up to 1,000 rooms. An 817-room Marriott hotel had been part of the WTC complex, but was destroyed in the attacks.

The increasing sense of normalcy in lower Manhattan is welcome news to travel buyers who bring a significant number of room nights to the area. Along with the...

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