Brookyln's hotel pipeline expands

There are 22 hotel projects with 2,208 rooms in the pipeline in Brooklyn as of January, writes the Commercial Observer, citing STR data. The number represents an increase in room count year-over-year from 1,370, and an uptick in the number of hotels from 14.

Of the 22 current projects, four (with 212 rooms) are in the planning stages, six (with 609 rooms) are in the final planning stages and 12 (with 1,387 rooms) are in construction.

Pipeline projects include two InterContinental Hotels Group hotels in Downtown Brooklyn, a Toll Brothers and Starwood Capital project in Dumbo and a Zelig Weiss hotel in Williamsburg.

However, the hotel market wasn’t strong in Brooklyn last month. According to STR data, in January, the Brooklyn hotel occupancy rate dropped 10.6 percent year-over-year, to 66.3 percent. Average daily rate also slipped 8.7 percent to $141.42. Demand declined 10.6 percent to 81,961 and supply remained flat at 123,566 rooms.

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