Originally Posted by Miesque

The PHNY is pricing itself in line with the handful of the most elite properties in Manhattan. I will be curious to see how it works out attempting to go toe to toe against the Peninsula, St. Regis, Four Seasons, MO et al. I am inclined to think that their ultimate average rate is going to be beneath those hotels once they hit full occupancy and so I if I were to make a projection, I think the avg rate for an entry level room will be closer to $750-700/night than the grand a night it currently seems to be (other then the dead spots on the calendar).