Hospitality operators and owners in New York City say a city council bill poses an existential threat to many of the city’s hotels. The Safe Hotels Act, a bill introduced by City Council Member Julie Menin in mid-July, has caused an uproar among hotel owners, who say its labor requirements and proposed licensing process will place the city’s entire industry in a stranglehold.
We now have a formidable group with expertise in selling investment property in NYC and multiple states, as well as the hotel sector. The results are there: our increased sales volume led to being recognized as a recipient of the esteemed CoStar Power Broker Top NYC Firm award for 2023.
This episode dives into what makes New York City’s hospitality market an exciting investment market with Anudeep Gosal, Senior Director at Besen Partner’s Hotel Advisory Group.
The hotel industry’s post-Covid revenue rebound has been a marker of success in the city’s pandemic recovery. It also may be misleading. The notable improvement in the hotel sector’s fortunes over the past year seems to have more to do with government interventions than any major market turnaround, say some.
Besen Partners is pleased to announce that we have once again been recognized as a Top Firm in New York City with CoStar’s prestigious Power Broker/Top Firm industry award for 2023
This episode explores key philosophies and lessons learned from brokerage and CRE marketing with Ron Cohen, Chief Sales Officer at Besen Partners.
Mamta Kumar pays $15.3M to Vishal Patel for hotel on Staten Island
Samuel Finkler, formerly a senior vice president of TrueRate investment sales, has joined Besen Partners as a senior director, national investment sales. Finkler has sold over 50 total properties in his eight years of experience in the business.
The first week that New York City’s law severely restricting short-term rentals was in effect didn't produce a higher-than-usual boost to hotel performance, according to early data, but hotel industry leaders expect that in the longer term, the ban will be a boon.
The pandemic and its associated travel bans crushed hotels across the country, but the sector has come back in force thanks to a slew of positive fundamentals for the asset class.