Times Square stands as an iconic tourist hotspot, with hotels in the district witnessing a remarkable resurgence marked by robust room demand. Hotel occupancy rates in Times Square are thriving, and the market is seeing significant real estate deals, including the sale of Hilton branded hotels at high prices per room. The return of international and business travel, as well as conventions are contributing to the neighborhood’s recovery and bolstering the local hotel industry. Furthermore, numerous hotels are in the process of undergoing renovations and enhancements. Although the expansion of new hotels in Times Square may be limited in the near term, existing properties are poised to reap the benefits of the resurgence in international tourism and the enduring allure of our neighborhood.
