manhattan lodging overview
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...
Manhattan Lodging Overview Summary – Q4 2020
Chris Fernandes | March 11, 2021
By Chris Fernandes, Anne R. Lloyd-Jones, Roland deMilleret The COVID-19 outbreak began affecting the New York City lodging market in late February 2020 and, in the months that followed, led to the virtual dissipation of traditional sources of lodging demand. As an international gateway city, the complete stoppage of inbound international flights and travelers is of particular note. Because of the reduction in travel across virtually all demand sources, this diversification has resulted in an even harder hit to New York than other smaller U.S. markets. Nonetheless, many reasons remain for optimism into 2021 as vaccine distribution ramps up ...
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...
2015 Manhattan Lodging Overview 2Q
Roland deMilleret, MAI | September 1, 2015
By Roland deMilleret, MAI and Erin Bagley The New York City borough of Manhattan is among the strongest, most diverse, and most dynamic hotel markets in the world. The 2015 HVS Manhattan Lodging Overview examines the effects of up and down economic cycles on Manhattan hotels, reviewing trends in hotel performance, supply, and demand over the past 25 years. The report also provides the most current information available on today's market, as well as forecasts for supply growth and hotel performance. Putting Hoteliers in the Know Historically, demand in Manhattan has grown faster than the rate of new hotel development, helping shield t...
