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Operating Statistics by Neighborhood
The following tables compare the performance of all reporting hotels
in Manhattan from 1998 through 2003; results are broken down by neighborhood,
including Midtown West, Midtown East, and Downtown.
Midtown West
| Year |
Supply |
% Change |
Demand |
% Change |
Occupancy |
% Change |
ADR |
% Change |
RevPAR |
% Change |
|
1998
|
8,865,997
|
---
|
7,453,036
|
---
|
84.1 %
|
---
|
$193.88
|
---
|
$162.98
|
---
|
|
1999
|
9,258,796
|
4.4 %
|
7,634,743
|
2.4 %
|
82.5
|
(1.9) %
|
202.18
|
4.3 %
|
166.72
|
2.3 %
|
|
2000
|
9,500,500
|
2.6
|
8,070,815
|
5.7
|
85.0
|
3.0
|
214.37
|
6.0
|
182.11
|
9.2
|
|
2001
|
9,970,517
|
4.9
|
7,671,667
|
(4.9)
|
76.9
|
(9.4)
|
189.39
|
(11.7)
|
145.72
|
(20.0)
|
|
2002
|
10,367,336
|
4.0
|
7,894,500
|
2.9
|
76.1
|
(1.0)
|
182.98
|
(3.4)
|
139.34
|
(4.4)
|
|
2003
|
10,625,712
|
2.5
|
8,146,176
|
3.2
|
76.7
|
0.7
|
180.39
|
(1.4)
|
138.30
|
(0.7)
|
| Average Annual Compounded Change: |
3.7 %
|
|
1.8 %
|
|
(1.8) %
|
|
(1.4) %
|
|
(3.2) %
|
|
Source: Smith Travel Research
|
|
*Some figures may be subject to small rounding
errors
** Statistics based on selected hotels from a large database
|
Midtown East
| Year |
Supply |
% Change |
Demand |
% Change |
Occupancy |
% Change |
ADR |
% Change |
RevPAR |
% Change |
|
|
|
|
|
|
|
1998
|
6,471,318
|
---
|
5,123,812
|
---
|
79.2 %
|
---
|
$232.01
|
---
|
$183.70
|
---
|
|
1999
|
6,579,220
|
1.7 %
|
5,184,025
|
1.2 %
|
78.8
|
(0.5) %
|
243.79
|
5.1
|
192.09
|
4.6 %
|
|
2000
|
6,591,001
|
0.2
|
5,434,133
|
4.8
|
82.4
|
4.6
|
262.67
|
7.7
|
216.57
|
12.7
|
|
2001
|
6,677,302
|
1.3
|
4,759,384
|
(12.4)
|
71.3
|
(13.5)
|
231.09
|
(12.0)
|
164.71
|
(23.9)
|
|
2002
|
6,694,830
|
0.3
|
4,963,011
|
4.3
|
74.1
|
4.0
|
215.75
|
(6.6)
|
159.94
|
(2.9)
|
|
2003
|
6,657,765
|
(0.6)
|
4,999,089
|
0.7
|
75.1
|
1.3
|
206.91
|
(4.1)
|
155.36
|
(2.9)
|
| Average Annual Compounded Change: |
0.6 %
|
|
(0.5) %
|
|
(1.1) %
|
|
(2.3) %
|
|
(3.3) %
|
|
Source: Smith Travel Research
|
|
*Some figures may be subject to small rounding
errors
** Statistics based on selected hotels from a large database
|
Downtown
| Year |
Supply |
% Change |
Demand |
% Change |
Occupancy |
% Change |
ADR |
% Change |
RevPAR |
% Change |
|
1998
|
655,905
|
---
|
568,124
|
---
|
86.6 %
|
---
|
$221.34
|
---
|
$191.72
|
---
|
|
1999
|
685,761
|
4.6 %
|
595,563
|
4.8 %
|
86.8
|
0.3 %
|
241.74
|
9.2 %
|
209.94
|
9.5 %
|
|
2000
|
924,122
|
34.8
|
756,427
|
27.0
|
81.9
|
(5.7)
|
268.05
|
10.9
|
219.41
|
4.5
|
|
2001
|
916,095
|
(0.9)
|
693,461
|
(8.3)
|
75.7
|
(7.5)
|
241.47
|
(9.9)
|
182.79
|
(16.7)
|
|
2002
|
965,710
|
5.4
|
733,537
|
5.8
|
76.0
|
0.3
|
229.58
|
(4.9)
|
174.39
|
(4.6)
|
|
2003
|
1,181,727
|
22.4
|
884,804
|
20.6
|
74.9
|
(1.4)
|
226.53
|
(1.3)
|
169.61
|
(2.7)
|
| Average Annual Compounded Change: |
12.5 %
|
|
9.3 %
|
|
(2.9) %
|
|
1.2 %
|
|
(5.9) %
|
|
Source: Smith Travel Research
|
|
*Some figures may be subject to small rounding
errors
** Statistics based on selected hotels from a large database
|
Lalia Rach
Ed.D, Associate Dean,
The
Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management
After three years of negative forecasts and shrinking profits, the proverbial light at the end of the tunnel is rapidly expanding. There is a palatable sense of promise permeating the NYC hotel industry. The increase in demand is reflected in rising occupancies and rates. Consumers will expect improved service and fresh products. As the recovery gains momentum, the question remains: Will the industry successfully respond to consumer demands?
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