PwC Manhattan Lodging Index: Q1 2014

May 2014
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PwC Manhattan Lodging Index: Q1 2014

At a glance

In the first quarter, modest increases in average daily rate did not offset Manhattan’s declining occupancy levels, resulting in a marginal decrease in revenue per available room.

During the first quarter of 2014, Manhattan’s occupancy levels decreased by 2.3 percent, compared to the same period last year, as elevated demand levels in Q1 2013 resulting from the after effects of Superstorm Sandy did not exist in Q1 2014. After strong growth in January and February, ADR decreased sharply in March, resulting in ADR growth of 1.9 percent in the first quarter. As a result, RevPAR declined 0.5 percent in the first quarter.