Published on : Monday, February 13, 2017
An executive of Related Cos. has confirmed last week that the New York-based company is likely to build a brand new hotel close to its new Hilton West Palm Beach at the Palm Beach County Convention Center.
Ken Himmel said that Related is quite pleasantly been surprised at the great success of the Hilton.
The hotel had logged room rates of $270 every night in January. This is higher than the expected rate of $230. He added that they had made profits of about six months in January according to Himmel, the president of Related Urban that was developed by the Hilton hotel and CityPlace.
Hotel occupancy rate was nearly 88% in January, as per Himmel.
Also, the convention centre has been enjoying a substantial increase in business simply because of the fact that there is a hotel right next door for the attendees of conventions.
Himmel went on to add that the convention center has witnessed triple bookings so far.
Those numbers are leading Himmel and other top Related executives to think about adding 200 more rooms on an adjacent parking lot. The new hotel would be equipped with a lot of modern amenities and the pool.
He said that a final decision should be made by the end of the year, and a new hotel might be constructed by the end of the year 2019.