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Michael R. Bloomberg
Mayor of the City of
New York
Tourism plays an integral role in New York City’s economic
vitality. Our outstanding cultural and social offerings, historic
landmarks, and amazing restaurants provide visitors with experiences
they will never forget. With the support of our thriving hospitality
industry, we will continue to develop and expand, offering people
even more reasons to visit the World’s Second Home.
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Jonathan M. Tisch
Chairman,
NYC
& Company
New York City continues to be a major visitor destination for domestic
and international travelers, in fact, we hold the position as the
top U.S. destination for overseas visitors. After a few trying years
for the travel industry, improving national and global economic
conditions, coupled with the weak dollar, are generating a travel
and tourism resurgence. The visitor volume New York City experienced
in the fourth quarter of 2003, continued through the first three
months of the year with strong hotel occupancy figures. The good
news in the tourism industry is even better news for New York City,
as visitor spending supports hundreds of thousands of jobs in all
five boroughs.
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Stephen Rushmore
President and Founder,
HVS International
HVS International recognizes that the tourism industry is a prime economic generator for New York City. The year 2003 ended on an extremely positive note for the Manhattan lodging sector. Though the first six months of the year were severely impacted by the adverse effects on travel due to the war in Iraq and global uncertainty, demand levels started rising in June. Overall occupancy increased from four to six percent in each month through the end of the year. Based on the market�s strong fourth quarter results, an overall improved economic climate, and the expected year-over-year growth in the first four months of 2004, we forecast that the Manhattan lodging market will achieve robust growth in 2004. As the national economy continues to recover, we project that by 2006, NYC�s occupancy will achieve close to 1999 levels, and average rate will return to 2000 levels.
Real estate developers remain optimistic toward the Big Apple. Its diverse neighborhoods continue to thrive, reaping the benefits of additional tourist visitation to new hotel properties, including the Mandarin Oriental Hotel in the Time Warner complex, the Hotel Gansevoort in the meatpacking district, and The Alex on the east side of Midtown Manhattan, among others.
New York City is looking forward to welcoming delegates to the Republican National Convention this summer. This particular event will reaffirm to the international community that the city is the most exciting destination for business and recreational travel in the world.
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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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Cristyne L. Nicholas
President & CEO,
NYC
& Company
At NYC & Company, we are optimistic about the city’s $21
billion tourism industry which generates nearly $3 billion in city,
state, and federal taxes and supports more than 226,000 jobs throughout
all five boroughs. Recent indicators suggest that this will be the
strongest spring travel season since 2001. Hotel occupancy for the
first quarter of 2004 was nearly 75%, compared to 66% for the same
period in 2003.
Overall year-end 2003 figures have yet to be released, but the
latest projections reflect an increase of 1.2 million visitors from
2002, up 3.5% to 36.5 million, a record number of visitors to New
York City. The travel outlook for the domestic visitor market is
set to break records as well, with an estimated 31.7 million visitors
in 2003 outpacing the smaller but more lucrative international market
which lagged overall in 2003 but showed a surge in strength at the
end of 2003 and into early 2004.
Major hotel development continues, with notable examples including
the recently opened Hotel Gansevoort, the Four Points by Sheraton
Manhattan Chelsea, the Mandarin Oriental Hotel, and The Alex. More
than 1,400 new rooms joined New York City's hotel inventory in 2003
and nearly 1,300 additional rooms are under construction, reflecting
the continued confidence of the hospitality industry in New York
City's tourism product.
Planned infrastructure investments in the rapidly growing cruise
industry, an expanded convention center, and proposed transportation
projects, as well as an architectural renaissance, will strengthen
New York City’s future as the premier visitor destination for
conventions, business, domestic, and international travel.
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Mark Lomanno
President,
Smith Travel
Research
Accelerating room night demand trends are propelling the New York
hotel market into a period of sustained growth. With stronger demand
for rooms during the business travel days of Monday through Thursday
augmenting the already strong leisure weekend travel days, occupancy
levels in 2004 will be at their highest since 2000.
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Joseph Spinnato
President & CEO,
Hotel Association of NYC
New York City�s hotel industry has weathered the economic storm that started brewing during the first part of 2001 and fully engulfed the city from fall 2001 through the second half of 2003. First quarter 2004 results were positive and strong. Despite many challenges remaining ahead, the city�s hotel professionals are expressing optimism for a steady recovery and growth going forward.
The coming Republican National Convention will provide a boost to the city�s coffers and spirits. The industry is working closely with city officials to ensure a safe, secure, productive and enjoyable visit from the thousands of delegates who will descend upon New York City this August.
Simultaneously, we are finally seeing progress on the Javits Center Expansion with serious discussions of viable funding sources. HANYC members are willing to do their part in providing an additional hotel tax as a source of funding for the much needed expansion. Stipulations include the following: that the tax - currently proposed at $1.50 per key per occupied room - be reasonable, be dedicated solely to funding of the Javits Center expansion, be subject to a sunset clause; and that other members of the city�s travel and tourism industry contribute as well.
At press-time, hoteliers were putting the finishing touches on the rooms portion of the city�s 2012 Olympic bid in an effort to position New York City as positively as possible as the field narrows and the committee continues weighing its options.
On a daily basis, the industry�s collective goal is to provide business and leisure travelers with a world-class lodging experience while in New York City.
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