manhattan lodging
PwC’s Manhattan Lodging Index: Q4 2021
PwC’s Manhattan lodging index | February 22, 2022
Manhattan Lodging Overview Increases in occupancy, ADR and revenue per available room (“RevPAR”) accelerated across Manhattan during the fourth quarter, as vaccination levels increased across the city during second half of the year and the city continued to reopen following the depths of the pandemic. Fourth quarter RevPAR experienced a year-over-year increase of 389.1 percent, heavily weighted to performance during the last two months of the year. “While RevPAR continued to rebound throughout 2H 2021, November and December showed the most significant year-over-year increases. However, omicron’s impact on hotel metrics in Manhatta...
HVS Manhattan Lodging Report Q4-2017
Roland deMilleret | March 8, 2018
by Roland deMilleret and Nicole Roantree The New York City borough of Manhattan is among the strongest, most diverse, and most dynamic hotel markets in the world. Manhattan's resiliency has been borne out over the course of recovery from three national recessions since 1989. The following report examines the effects of past recessions on hotel performance in Manhattan, as well as the dynamics of hotel supply and demand and forecasts for the health of the local lodging industry in the near term. Historical Hotel Performance in Manhattan Through year-end 2016, demand growth modestly outpaced increases in supply; on a twelve-month moving a...
Manhattan Lodging Index – Fourth Quarter 2017
PwC | February 27, 2018
After ten quarters of continuous RevPAR declines, performance finally turned around in the fourth quarter of 2017. RevPAR increased 1.4 percent, driven entirely by resilient occupancy levels. While supply growth showed signs of deceleration, growth in average daily rate remained elusive. Looking back through 2017, top line lodging performance in Manhattan was all about room night demand. Despite an increase in supply of 2.6 percent, lodging demand grew at a 3.7 percent rate, driving a second year of occupancy growth. However, maintaining pricing power proved challenging in the face of this new supply, resulting in a 1.6 percent decline...
PwC’s Manahattan Lodging Index Q3 2017
Manhattan Lodging Index | November 28, 2017
Continuing declines in room rates outweighed improving occupancy levels in Manhattan hotels during the third quarter, extending a pattern established last year. Although supply growth appears to have finally peaked, Q3 marks the tenth quarter of declining RevPAR since the beginning of 2015. Although supply growth may no longer be the top threat to the Manhattan lodging market, several other factors, including perceived political uncertainty and international travel restrictions, as well as a profound shift in demand segmentation, remain real concerns. Despite these, demand growth during the quarter of 3.4 percent outpaced an increase in...
