Hotel Management Companies Look To Brooklyn For Expansion

The entire state of New York has always proven to be a reliable market for tourism-related industries. This is especially true, when it comes to hotel chains. Of course, the cost of real estate has continued to climb and this has encouraged many companies to begin expanding outside of Manhattan. Many have decided to expand to Brooklyn. During 2016, New York City saw a record number of visitors topping 60 million. So, why has Brooklyn become so popular?

About Brooklyn

While New York City is undeniably the hottest city in all of New York, the outer boroughs are actually more beneficial. This is true, because they offer the best rates and greater demand. Therefore, hotel chains can easily dip into this market and instantly pick up the slack. Just recently, several companies have made the switch. The InterContinental Hotels Group opened a Brooklyn hotel in July. The company was able to cooperate with nearby roofers and this allowed them to keep their costs to a minimum.

Their new hotel, which is known as the Even Hotel Brooklyn, is located directly across from the Holiday Inn. It opened in Spring. And of course, the New York Marriott at the Brooklyn Bridge went through renovations just recently. The 45 million dollar renovations were completed in July. These aren’t the only companies that have decided to move to Brooklyn. The list goes on and on. At the same time, more companies plan to build in Brooklyn in the company year.

Coming In 2017 and 2018

Within the coming years, Brooklyn will see a major growth in hotels. It is believed that two Holiday Inn hotels will open in the area in January of 2018. Meanwhile, there is a Red Lion, Days Inn, and Hampton Inn planned for Brooklyn in 2017. Over the course of the next few years, it is highly likely Brooklyn will go through a major transformation. In time, the area may become unrecognizable.