Hotel owners ready to celebrate
The City Council is holding a public hearing this Thursday on the proposal to limit the amount of hotels built in industrial areas. After the hearing, the council is expected to schedule a vote, according to Crain’s.
How it would be done: The amendment would require proposed hotels in M1-zoned areas to undergo a full public review process before obtaining a special permit.
Why it matters: With the struggling hospitality industry, hotel owners will support any proposal that will limit the number of new hotel rooms. Although there are 64 million tourists who visited New York last year, a surge in supply along with Airbnbhas really put a strain in the sector.