According to industry forecasters, in 2009 U.S. hotels are expected to fill the smallest percentage of rooms since 1988, the year they started tracking this data. The projected average occupancy rate is 58.3%. (Source: USA Today)
The Chelsea is apparently no exception. It’s been awful quite around here and we have heard from a staff member that occupancy rates have recently sunk below 30%. We don’t know for certain, but this seems close to the occupancy rates experienced during the months following 9/11. It makes you wonder then, with such a drop in tourists, why are they still continuing to try to evict permanent residents. Just last week another round of three day notices were delivered.
Stanley was able to partially remedy the situation by renting to more permanent tenants during the months immediately following 9/11, but don’t expect the new management to go that route. They would apparently rather take a loss than to see any more bohemians running around here.
Recent Comments