The midscale hotel market in New York is experiencing a development boom. Lodging Econometrics projects 18 openings of midpriced hotels this year, up from four in 2012. "If you look at the broad expanse of New York, it's really upper-midscale kind of customers who were finding discounts or finding less-than-acceptable lodging. Now, there are so many different options. These midblock hotels fill a real void," said Interstate Hotels & Resorts CEO Jim Abrahamson.

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