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Article: Fourth-quarter '96 Manhattan hotel occupancy rose to record 89.3 percent, Coopers & Lybrand L.L.P. lodging consultants find.
- Article from:
- Business Wire
- Article date:
- January 21, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--Jan. 21, 1997--
Occupancies, Rates To Continue Rise in First Quarter '97, Firm Says
Fourth-quarter 1996 occupancy rates for Manhattan hotels increased 1.9 percent over the year-earlier period to a record 89.3 percent, according to information gathered by the hospitality consulting practice of Coopers & Lybrand L.L.P.
Fourth-quarter 1996 average daily rates for Manhattan hotel rooms rose 11.2 percent from the year-earlier period to $181.01 from $162.85, Coopers & Lybrand reported.
"The fourth quarter of 1996 was exceptionally robust due to a combination of strong convention and commercial bookings in ...