Rumors Of A Javits Hotel?

<B>Rumors Of A Javits Hotel?</B>

According to PricewaterhouseCooper's Sean Hennessey, one of New York's most intriguing lodging questions may soon get a positive answer. Within a year, he expects to see the first proposal for a new hotel directly across the street from the Javits Convention Center. Hennessey said, "there definitely is interest in that location (the northeast corner of 36th Street and Eleventh Avenue), but many people are skittish, since no one seems to want to be the first to venture into that territory."

Even though many developers have considered building in the otherwise desolate area--which now offers no restaurants, shops or anything else of interest to convention-goers except quick Javits access--Hennessey seems confident that's about to change.

Frank Dougherty, HVS International vice president, was less optimistic. He "used to hear rumors of something going up on 38th Street between Tenth and Eleventh avenues, but nothing has come of it." Dougherty said these earlier rumors were based on the fact that land near Javits was, for many years, relatively inexpensive. That meant it would allow a new moderately priced hotel to arise, giving operators a chance to profit from the combination of location and lower real estate rates. But, he insisted, "today, office and other commercial demand has sent those land prices up, negating that argument."

Furthermore, he added, "why would anyone want to stay there? No one spends all day and night at Javits. And there is nowhere an out-of-towner would want to walk or eat in the immediate area." He also pointed to the extensive volume of shuttle buses that link Javits to the Marriott Marquis, Sheraton and Hilton, and other hotels favored by trade show attendees.

"After hours," he said, "visitors want to be near theaters, restaurants or other locations with dining or entertainment options. The territory near Javits most definitely does not meet those criteria.