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23 Nov 2021

New York City Hotel Business Getting Little Boost From Holiday Season

A major challenge for hotel owners is that visitors are reserving rooms on short notice, often within two weeks of traveling. Michael Achenbaum, president and founder of Gansevoort Hotel Group, which owns a 186-room luxury hotel in the Meatpacking District, said this short booking window makes it harder for hotel owners to anticipate occupancy and raise rates accordingly.