Biggest hotel in the city arriving to LIC, in Queens
Even though Manhattan has historically been where hotels in New York City are, there is a new player coming to town and will not settle down in Midtown, like many others of its kind do. Toyoko Inn, known for its huge dimensions, is coming to Queens, more specifically: Long Island City.
This new giant will be addressed at 24-09 Jackson Avenue and will feature 1,260 keys divided in 50 stories. This means this hotel will be the largest in the outer boroughs and the ninth largest in the city as a whole. This will be the only hotel outside of Manhattan in the “Top 10 Biggest Hotels in NYC”.
There is no way we can compare the hotels that are based in Manhattan with the ones located in the other boroughs. The biggest hotel in the area is the Hilton, addressed at 1335 Sixth Avenue. It features 2,076 rooms, and is the only one in the whole city that surpases the whopping number of 2,000. The second biggest hotel is the Marriott Marquis. This hotel is addressed at 1535 Broadway and features 1,919 rooms.
When looking at hotels outside of Manhattan, the biggest ones are merely a quarter of the ones with previously mentioned. East Elmhurst has the biggest one in the outer boroughs, the LaGuardia Airport Marriott. This hotel only has 450 rooms. This building is followed by the Raddisson at JFK Airport, with 385 keys.
When looking at top 20 outer borough hotels, we can see most of them are in Queens and the biggest four are airport hotels. Brooklyn has made the list for the first time with the inauguration of the revamped Hotel Bossert. This hotel is located in Brooklyn Heights and features 280 keys. Staten Island is also making its first appearance on the list with the Hilton Garden Inn, which has 198 rooms and is located at 1100 South Avenue. When it comes to The Bronx, we cannot find it in the top 20 list.
Even though there are plenty of hotels coming to the city (and most of them are going to Manhattan) the Toyoko Inn is on the top of the list, beating the second biggest future hotel by a wide margin. This second hotel will be addressed at 1568 Broadway and will feature 745 rooms.
When it comes to the outer boroughs, LIC is the most popular one for new hotels, mainly because of flexible zoning restrictions and the neighborhood’s proximity to Manhattan. Nevertheless, none of the hotels already in the area come near to how big the Toyoko Inn will be. It will be a new thing for the neighborhood. For George Xu, the founder of Century Development Corp., a real estate firm based in Queens, the future success or failure of the Toyoko Inn will depend, basically, on pricing. For Xu, this will be a diciding factor because rooms are expected to be much smaller than other options in the area, so people will likely choose the bigger room if both have a similar price tag.
Jan Frietag, senior vice president at STR, a hotel data and analytics firm agrees with Xu. He thinks the owners will likely cater to tourists from Asia, so the current market has the capacity to handle and support such a big project. After all, the Toyoko Inn has over 200 locations in several Asian countries such as Cambodia, Korea and Japan. There are still some permits that need to be filed, but everything seems to point out that the Toyoko Inn will be finding a new home in Long Island City. [The Real Deal]