News
Hotel Suites Are Replacing Hospital Rooms As Aging Baby Boomers Fuel Demand
Patients are increasingly traveling to and across the US for medical needs, and some hotel developers are stepping in to take advantage.
Edge Hotel opened in 2015 and is only a block and a half from NewYork-Presbyterian Hospital (above), an area with few lodging options. The hotel’s developer said it’s been more successful than it ever imagined, the New York Times reports. Edge Property Group said the hotel has a consistent 80% occupancy rate and 90% of its customers have ties to the hospital, including patients, professors, students and pharmaceuticals sales reps.
Aging Baby Boomers are driving much of the demand for hotels near hospitals, and that demographic shift isn’t going to slow down anytime soon. [NYT]
