Manhattan lodging index: Q2 2011
September 2011
At a glance
In the second quarter, Manhattan's average daily rate ("ADR") increased substantially, while occupancy levels declined, still resulting in a healthy increase in revenue per available room ("RevPAR") levels.
In the second quarter, Manhattan's average daily rate ("ADR") increased substantially, while occupancy levels declined, still resulting in a healthy increase in revenue per available room ("RevPAR") levels.
Lodging supply growth in Manhattan continued to outpace demand in the second quarter of 2011, resulting in a 1.7 percent decline in occupancy levels to 87.2 percent. Despite this, Manhattan hotels continued to regain pricing power, resulting in a 9.2 percent increase in ADR. The combination of a continuing ability to charge higher room rates, despite decreasing occupancy levels, led to a 7.3 percent increase in RevPAR, compared to year-ago levels.