Bloomberg looks to extend NYC hotel tax

November 8, 2011 4:58:27 AM PST
Tourist industry executives who hoped that New York's hotel tax was going away will be disappointed.

New York City Mayor Michael Bloomberg now says he wants to extend the 5.8 percent tax that was set to expire at the end of this month.

The city faces a $4.6 billion deficit.

If the City Council approves the two-year extension, as expected, it will generate an additional $90 million through June 2013.