NEW YORK — New York’s hottest hotel deals come to a close on Monday with a total of $1.1 billion in hotel deals announced in the last 24 hours.
The deals included a new Hilton Hotels, the new Hilton Garden Inn and the new The Residence at Hampton Inn, among others.
New York City Mayor Bill de Blasio announced the hotel deals as part of the state’s Tourism and Convention Bureau’s annual Holiday Tourism Guide, which is released Monday night.
The mayor’s proclamation comes amid renewed scrutiny of the industry, which has struggled to keep pace with rising hotel room demand in the city.
Hotel rooms have been on a steady decline in the U.S. for decades, but hotel occupancy rates have been rising steadily.
Hotels are a big contributor to the nation’s tourism economy.
The number of hotel rooms in the United States increased for the fourth consecutive year in 2017, according to hotel industry data compiled by the Bureau of Labor Statistics.
However, the trend is expected to slow down, and the bureau projects that occupancy rates will fall to a historic low of 72.3 percent by 2026.
The trend is also projected to be higher in the next five years.
The BLS projects hotel occupancy to decline in 2026, from 74.6 percent in 2017 to 73.9 percent in 2036.
Hotels are expected to contribute $1 billion to the city’s economy in 2024, according the bureau.
That’s more than the $8.9 billion the city received from hotel occupancy and revenue in 2019.
Hilton, the second-largest hotel operator in the country, announced it would close two of its hotels in Brooklyn and Queens.
Hilton announced in a statement that it is “notifying all employees of the closure of its properties in the two Brooklyn and two Queens neighborhoods, effective immediately.”
The move follows a similar move by Hilton, which also shuttered its Holiday Inn Express and its Grand Hyatt.
Hilton did not provide specific details about the two closures.
Hudson’s Bay, another hotel operator, said in a press release Monday that it would shut its Hyatt Point and its Sheraton Grand Hyat for good.
Hillsborough-based Hilton said it was closing its Grand Haven and Hyatt hotels in both New Jersey and New York state.
The closures were expected to close by the end of 2019.
The hotel chains’ announcement follows a deal with Marriott to sell the Marriott brand to U.K.-based Hotels Royal Group.
Hotemporium, the nation-leading online hotel booking service, announced last week it was selling its assets to a unit of the Marriott Group, which owns the Hotemporia name.
The new company will be led by co-founder and CEO David Wertz.
Hotecom, which provides online bookings for nearly 80 million hotel rooms, announced in January that it had completed a $1 million purchase of its businesses in New York, Chicago and Houston.
The company also announced plans to buy another 19 businesses.
Hotstar, the leading hotel booking platform, announced Monday it had closed its hotel booking business in Las Vegas.
The firm said it will focus on the business of booking hotels for guests staying at its hotels.
HotStar said the company was shutting down its business, HotStar Entertainment and Hotstar Mobile, as well as its website.
Hotstars, which had its headquarters in Dallas, is expected “to remain in the Las Vegas region and to continue to invest heavily in its business” as it transitions to the new business.
The company will focus “on growth and profitability,” the company said in its press release.
The move to consolidate Hotstar and its online booking businesses comes as hotel chains are grappling with a steep decline in room occupancy and hotel revenue.
Hotel occupancy is down nearly 25 percent in the past year, according a report from the U:Information Technology Industry Association, or ITIA, a trade group representing the industry’s most popular hotels.
The industry’s occupancy rates, however, are still on track to continue climbing, with occupancy rates increasing about 18 percent last year.
In addition, occupancy rates increased about 14 percent in 2016, according ITIA.
While occupancy rates are rising, revenue from hotel rooms and rooms per person are down.
In 2017, hotel room revenue was down more than 25 percent compared with 2016, ITIA said.
HotStores, the industry-leading hotel reservation and payment platform, said Monday it has closed all of its stores in the New York City metropolitan area.
It will also begin removing from its website all locations in the Chicago area.
HotSpot, the world’s leading hotel reservation app, announced on Monday it will shut down in the Boston metropolitan area in 2017.
The Boston-based company said it plans to focus on building its own technology infrastructure and will “focus its efforts on technology-based services, and not on competing with existing hotel-booking and reservation