nyc hotel market
Labor Day Strength Pushes NYC Into Top 25 RevPAR Lead, Leisure Markets Dominated Everywhere Else
STR | September 23, 2022
For this edition of STR’s U.S. “bubble” chart update, we returned the focus to revenue per available room (RevPAR), a core indicator of the general financial health of hotel markets. For the four weeks ending 10 September, there was an expected seasonal softening from the mid-summer travel peak. In fact, only six of the 165 STR-defined U.S. markets saw month-over-month RevPAR increases for the period, which included the Labor Day holiday. That holiday typically produces major decreases in industry demand—especially weekday business travel—as well as marks an informal end to summer travel. Among the U.S. Top 25 Markets, ...
NYC Hospitality Sector Continues Recovery as Travel Surges and Hotels Reopen
Hodges Ward Elliott | September 23, 2022
New York, NY – September 20, 2022 – As the U.S. continues to recover from the events of the last two years, New York City tourism is returning to pre-pandemic levels as both international and business travel to the area has surged over the past few months. In addition, the reopening of numerous hotels throughout the City, as well as the return of Broadway shows, has also stoked the market which bodes well for the future health of the New York City hospitality sector. These are some of the major takeaways from the New York City Q2 2022 hospitality market report, released by Hodges Ward Elliott ("HWE"), the premier boutique real estate c...
New York City on Track for Surge of New Hotel Rooms
STR | July 12, 2021
HENDERSONVILLE, Tennessee — July 12, 2021 — New York City is well ahead of all other U.S. markets in hotel rooms under construction and projected openings for the remainder of 2021, according to pipeline data from STR’s AM:PM platform. As of 1 July 2021, New York City showed almost 22,000 rooms in construction. Only four other markets have more than 5,000 rooms in that final phase of the pipeline. 1. New York (21,878 rooms) 2. Los Angeles (6,595 rooms) 3. Atlanta (6,398 rooms) 4. Las Vegas (5,031 rooms) 5. Dallas (5,028 rooms) Of those almost 22,000 rooms under construction, more than 8,500 are scheduled ...
