|
|
Article: Manhattan hotel occupancy rises to record. (New York)
- Article from:
- Real Estate Weekly
- Article date:
- February 19, 1997
CopyrightCOPYRIGHT 1997 Hagedorn Publication. 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)
|
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 also rose 11.2 percent from the year-earlier period to $181.01 from $162.95, Coopers & Lybrand reported.
"The fourth quarter of 1996 was exceptionally robust due to a combination of strong convention and commercial bookings in October and November, as well as a very active tourism and leisure market through the fall, particularly around the holidays," said Arthur Adler, ...