In the fourth quarter, despite being impacted by Superstorm Sandy, Manhattan hotels experienced growth in both occupancy and ADR, resulting in a healthy increase in RevPAR.
During the fourth quarter of 2012, Manhattan's occupancy levels increased 2.5 percent to 88.8 percent.
Continuing the trend from previous quarters, ADR experienced healthy growth, increasing 3.7 percent. This combination led to a 6.3 percent increase in RevPAR in the fourth quarter. Considering that Superstorm Sandy hit New York City during the last week of October, fourth quarter growth exhibited by Manhattan hotels is robust.
On an annual basis, occupancy levels grew 3.0 percent and ADR levels increased 2.6 percent, driving a 5.7 percent increase in RevPAR, for the second year in a row.