Another new hotel for Lower Manhattan

According to Crain's New York, hotel builder Sam Chang is about to begin converting a former residential building he purchased prior to the economic downturn into a seven story, 80-room hotel. Located on Pearl Street, just one block west of historic Fraunces Tavern, the hotel will be the area's second Hampton Inn.

More significant, however, is the fact that when it opens under Hersha Hospitality Management operation at the end of the year, it will be the 18th hotel to open south of Chambers Street since 2001. For many years, this area had had only a very few hotels but the city's booming hotel industry changed that, not only in this neighborhood but in many others throughout the city.

Fickenscher, Lisa. Another 80-room hotel springing up downtown. Crain's New York. February 11, 2011.