Just eight hotels containing 1,567 guest rooms opened in 2011, down from a peak of 24 hotels and 5,519 guest rooms reached in 2010. Half of the properties opened in 2011 (Mondrian SoHo, Yotel Times Square, Dream Downtown and Hyatt 48 Lex) represented 88% of the new guesrooms added that year. Each of these four hotels had started construction prior to the September 2008 Lehman Brother bankruptcy and was delayed for a period of time thereafter.

There are now 45 hotels under construction in Manhattan, containing a total of nearly 9,000 guest rooms. Of these, 14 properties (1,856 rooms) are expected to open during the remainder of 2012 and 31 additional hotels (7,108 rooms) are expected to open in 2013-2014.

Twelve properties, comprising 1,888 guest rooms, have building permits or approved building plans but have not started construction. An additional 21 properties, representing 3,208 guest rooms, are in various stages of active permitting for new hotel construction, expansion or conversion.

The full 2012 Manhattan Lodging Report provides complete profiles for more than 90 properties in various stages of development or recently opened, including contact information for project owners, developers, architects and builders.

Click here for an interactive map showing the location and status of all projects in the Manhattan pipeline. For information about the full 2012 Manhattan Lodging Report, contact Jack Elsner at 804.274.0241 or [email protected]