More Boutique Hotels in New York City To Come

New York City is not a place for the faint of heart.

Kimpton Place will build 10 more boutique hotels in NYC.

One of the reasons is simply that there is such a high demand for boutique hotels in NYC. The average occupancy rate was 81% (from January to November 2010) – which was significantly higher than in other U.S. markets.

“Demand in that city is frankly insane,” Depatie said. “We’re focused on areas in Manhattan where you typically don’t have many hotels, like the Meatpacking District, Chelsea or Tribeca.”

Kimpton operates the Ink48 hotel at 11th Avenue and 48th Street, in midtown Manhattan’s Hell’s Kitchen area. The hotel, located in a former printing house, is performing as well as the company’s 70 Park Avenue Hotel, Depatie said.

“So many areas in that city are changing so quickly,” he said. The company also operates The Muse Hotel, close to Times Square, and Eventi, in Chelsea.

Source: BusinessWeek

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