Hospitality & Tourism

Whether it’s the proximity to New York City or all of the tourist attractions that New Jersey has to offer, the Garden State’s hospitality industry is booming. Hotels are increasingly becoming part of major redevelopment projects.

Atlantic City real estate values plunge amid resort’s struggles

THE RUNDOWN: Like its gaming revenue, property values in Atlantic City have plummeted over much of the past decade. That’s according to a new story by The Press Atlantic City, which found that total property assessments in the city have fallen from more than $20 million in 2008 to roughly $7 million today.

First new hotel in decades coming to downtown Montclair

The Pinnacles Cos., in a joint venture with The Hampshire Cos. and investment partner Circle Squared Alternative Investments, broke ground recently on downtown Montclair’s first new full-service hotel in decades.