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Why everyone is booking hotels in New York right now

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The New York City hotel industry, once battered by the COVID-19 outbreak, is making a remarkable comeback, and the migrant crisis is playing a significant role in its resurgence.

The influx of migrants seeking asylum has spurred an unexpected demand for hotel accommodations, leading to a boon for the hotel sector.

Businesspeople are now looking to invest in hotels or open new ones due to the financial opportunities arising from the city’s expenditure on housing asylum-seekers and the resulting scarcity of rooms for tourists. Previously, the pandemic had left thousands of hotel rooms empty, causing massive revenue losses and even bankruptcies.

Price hike

With tourists returning to the Big Apple, a common complaint has been the expense of hotels in Manhattan, even those below three stars.

Over 100 hotels in the city have contracted with Mayor Eric Adams’ administration to provide more than 10,000 rooms for asylum-seekers. Some prominent hotels, like the Roosevelt and Holiday Inn, have already been converted into migrant shelters. As a result, hotel occupancy rates have increased, and the revenue per room has risen compared to pre-pandemic levels.

However, the hotel industry still faces challenges. The number of hotel rooms remains lower than before the pandemic, and the city’s tourism business has not fully recovered. Additionally, some industry insiders worry about the future when the migrant crisis subsides. Nonetheless, the current uptick in hotel demand has been a positive development for an industry that once faced severe setbacks.

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Boeing face delivery delays following guilty criminal charge plea

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Boeing’s deliveries are down after months of controversy, is it because they can’t make the planes, or because airlines right now don’t want them?

Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States in connection with the investigation into two fatal crashes involving its 737 MAX aircraft.

Boeing reported a significant 27% decrease in deliveries for June compared to the same month last year, possibly attributing the decrease to the companies ongoing controversies.

Aviation expert Geoffrey Thomas joins to discuss. #featured

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Blockchain sparks a transformative influence in Australia

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Professor unveils blockchain’s role in transforming the economy and innovative projects taking place at RMIT University.

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, BTC Markets CEO Caroline Bowler interviews Professor Chris Berg, Director of RMIT Digital3 and Co-Founder of the Blockchain Innovation Hub at RMIT University. They discuss RMIT’s cutting-edge projects and the transformative impact of blockchain technology in Australia.

Professor Berg shares insights into RMIT’s Digital3 philosophy, which combines research, innovation, and collaboration to drive the digital economy. Learn about groundbreaking initiatives in blockchain, cyber security, and AI, and how these disruptive technologies are reshaping business, government, and society.

Discover how RMIT is leading the charge in rethinking and regenerating the way we work through world-class research and tailored education, offering a glimpse into the future of technology and its potential to benefit both the economy and society. #crypto corner

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From $25K to $1.5M in real estate: expert unveils game-changing strategy for investors

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Empower your property investing with these key tips

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Dean Fraser, Founder and CEO of BrickFloor. #trending #wyld money

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