Anudeep Gosal

New York City’s proposed hotel licensing bill, Int. No. 991, is igniting alarm among the city’s hospitality sector, particularly small and independent operators.

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.

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.

Mamta Kumar pays $15.3M to Vishal Patel for hotel on Staten Island

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.

New York City’s hotel industry contends with a unique quandary in its post-pandemic resurgence. Over 140 city hotels are doubling as migrant accommodations, especially in the certain neighborhoods in the boroughs. This is limiting inventory availability and inadvertently boosting property values.

All of my current projects involve hotels that have been destabilized by the pandemic, working to create and uncover value that can help restore and reorganize the capital stack from debt to equity for both owners and investors.

We are presently witnessing the longest uninterrupted economic growth in modern history, with the hotel industry now 114 months into an expansion cycle. There are growing concerns of geopolitical issues […]

Besen Partners Hotel Advisory Group has been awarded the exclusive agency for the sale of two newly constructed limited-service hotels in Rockaway, NY: a Best Western and a Wingate by Wyndham. Completed in 2018 and opened for occupancy in September 2019, the two semi-attached assets encompass 53,858 sq. ft., with a total of 146 rooms.