Business English Lesson – Advanced Level''''s archiveThe Hospitality Industry docx

Business English Lesson – Advanced Level's archive
The Hospitality Industry
1. According to Michael Stoler, an influx of capital into the
New York real estate market is the hotel market.

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2. "The availability of funds both on the debt and equity
sides from the of lending institutions and opportunity
funds for hotel projects in the Big Apple is plentiful," the
principal of Eastern Consolidated, Alan Miller, said.

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3. Numerous groups are seeking to be part of the
tremendous wave of hospitality demand we are
experiencing, from the construction of ground hotels
or the conversion of existing buildings to the repositioning
of certain hotel assets.

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4. The market is in capital chasing hotels.

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5. With the strong need for more rooms in Manhattan,
with the fact that there are no longer any
undesirable' neighborhoods, the entire island south of
125th Street from river to river represents a good hotel
site.

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6. Highgate Holdings is planning to convert the Chinatown
Holiday Inn at 138 Lafayette St. into a hotel.

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7. "The of hotels is probably at an all-time high,
which might lead to increased competitiveness and price
wars," Mr. Hennessey said.

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8. It will likely hurt those hotels that have benefited from
the of Manhattan's demand.

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9. The greater risk is that the city's economy , and
what many of the newly minted hoteliers don't realize is
that a small drop in revenue can cause a huge drop in
profitability.

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10. When the slowdown eventually comes, a reverse
effect is expected whereby the properties living off
of the Manhattan-displaced demand, particularly those
without adjacent commercial development, will feel the
downturn first.

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