Manhattan lodging index: Third quarter 2008

January 2009
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Hospitality & leisure: Manhattan lodging index: Third quarter 2008

At a glance

According to PwC, strong ADR growth in all three months drove robust RevPAR growth of 9.9 percent for the third quarter.

Strong ADR growth in all three months drove robust RevPAR growth of 9.9percent for the third quarter


The Manhattan market continued to grow at a strong pace in the thirdquarter, driven primarily by average daily rate (ADR). Third quarterADR increased to $307.29, 8.6 percent above the same period last year.Occupancy increased a moderate 1.2 percent to 88.5 percent, limitedprimarily by a 0.8 percent decrease in September. Year-to-date resultsthrough September reflected similar strong growth trends, with ADRincreasing 7.8 percent, resulting in an ADR of $295.73 and a RevPAR of$253.42.