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NYC hotel availability gets tighter, more expensive.

Publication: Business Travel News
Publication Date: 19-JUN-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
With hotel demand continuing its three-year rise across the country, corporations are finding it more difficult to find availability for their business travelers, particularly in New York City. With the shift in power comes new rules, prices and policies for business travelers to endure.

Hotel occupancy rates still are on the rise and are not expected to level off until 2007 and 2008, according to PKF Consulting. While that demand is prodding prices to climb, hotels are altering policies to leverage their market position. The Grand Hyatt New York, which has more than 55,000 square feet of meeting space, is raising the threshold of room nights required to reach a corporate deal, said Michael Newman, director of marketing for the Grand Hyatt New York. On the upside, said Anthony Napoli, president and CEO of Briggs Red Carpet Associates, hotels have little trouble booking...

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