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Hotel market staggers in New York City

Strong dollar, weak global economy could curb tourism and undermine city's appeal to developers and investors

Some 14,272 more rooms are under construction in the city. Yet, demand decreased 1.8 per cent in January, even as hotels across the city reduced room rates to entice customers.

New York

ON 41st Street near Times Square, a Hyatt Place hotel is under construction. The shell of a Hampton Inn sits one block to the west. Nearby, scaffolding heralds a Holiday Inn.

For years, New York City's hotel sector has been growing. But a sustained strengthening of the...

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