As the holiday season approaches, demand for temporary lodging in New York is high — with an average price of $300 a night and some 180 hotels being planned or built. And according to Forbes, the surge in the hotel sector is fueling the city’s commercial real estate recovery, as demand outweighs the supply of properties. Early this month, Blackstone Group acquired the Motel 6 brand and its approximate 1,100 owned or franchised properties in a $1.9 billion deal. And since [more]
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