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NYC hotel rates to go upNew York City has more than enough hotels to meet traveler demand, Davis said, citing an unprecedented supply of new hotel rooms in the city. "Since 2020, 10,000 new hotel rooms have been delivered, and over the next couple of years, another 10,000 new hotel rooms will be delivered to the city," he said. "So there's absolutely more than enough supply of hotel rooms to accommodate all the tourists that want to come to New York City." Knock-on effectFrom London to Paris and Dubai, cities across the world have regulated short-term rental markets. "It's certainly possible that they could follow the lead of New York City," Davis said.
Persons: we've, Kevin Davis, Davis, CNBC's Mandy Drury Organizations: Associated Press, New York City, JLL, Hospitality's, Google, New, & ' Locations: New York City, New York, Hospitality's Americas, airfares, United States, U.S, airfare, London, Paris, Dubai
Investors looking for stocks to ride out a recession may want to consider NextEra Energy and cyber security firm Fortinet , according to one fund manager. The remaining 40% of revenues come from its NextEra Energy Partners subsidiary, one of the biggest wind and solar generators in the United States. When asked by CNBC's Mandy Drury to name recession-proof stocks, Masters said NextEra Energy fit the bill. The fund manager said Fortinet would likely see revenue growth this year despite a global recession as companies fear being hacked amid an increase in online crime. Masters manages the Alphinity Global Equity Fund, which outperformed the MSCI World Index last year.
Global stocks were hit hard in 2022, with the MSCI World Index falling almost 20%. Join CNBC's next Pro Talks for insights on how to play the market in 2023. Watch the next Pro Talks here . Join CNBC's next Pro Talks for insights on how to play the market in 2023. Watch the next Pro Talks here.
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