NYC Hotel Survey

Rudolph W. Giuliani,
Mayor,
New York City

One of the most striking measures of New York City�s resurgence is the fact that the number of visitors to our City has increased from 22 million in 1991 to well over 38 million in the year 2000. In fact, New York City is the number one place to visit and do business in the United States, and remains the number one destination for foreign tourists.

According to a 2000 Zagat survey, travelers ranked New York City as the best city to visit. In 1997, Fortune named New York City the most improved city for business in North America, and in 2000, the magazine named our city the number one place for business in North America.

Economic development has also been critical to improving the quality of life in New York City. Tax cuts, combined with fiscally responsible policies, have resulted in broad private-sector job growth. In 2000, the City created 88,000 new private-sector jobs � more jobs than at any time since records began to be kept in 1953.

In short, we�ve returned the value of work to the center of our City life, and the result is a vibrant atmosphere of optimism, confidence, and entrepreneurial activity. New York City is again a City on the rise, worthy of the title, �Capital of the World.�

Visit the HVS International web site for hospitality-industry publications, including:

	The Rushmore Monthly Letter
	Canadian Lodging Outlook
	Hotel Development Cost Survey
	The 2001 Hotel Franchise Fees Analysis Guide
	The Hotel Investment Handbook
	The HVS International Journal

Click here to visit the web site for New York University�s Preston Robert Tisch Center for Hospitality, Tourism, and Travel Administration

HVS International Presents

The June 2001
HVS International Journal

Click here to view the journal.

New York City Hotel Survey

HVS International, in cooperation with New York University�s Preston Robert Tisch Center for Hospitality, Tourism, and Travel Administration, is pleased to present the fourth annual Manhattan Hotel Market Overview. Our research and findings indicate that the New York City hotel market had yet another record year, with RevPAR increasing by 11.1% over 1999; however, the addition of 3,222 new rooms in the first quarter of 2001 has had a significant impact on occupancy.

Going forward, new supply will continue to impact the market, particularly in light of current economic uncertainty. However, the bulk of the new supply has already entered the market, and although some neighborhoods and market segments will be impacted later this year, we anticipate the second half of 2001 to be much stronger than the first.

HVS International is a global hospitality consulting organization with offices in New York, San Francisco, Miami, Boulder, Vancouver, Toronto, S�o Paulo, Buenos Aires, London, New Delhi, and Singapore. Its professional staff of more than 150 industry specialists offers a wide range of services, including market feasibility studies, valuations, strategic analyses, development planning, and litigation support. Through its divisions, HVS supplies unique hotel consulting expertise in the areas of executive search, environmental services, food and beverage operations, gaming, operations analysis, asset management, timeshare consulting, operational and management strategy development, investment counseling, and marketing communications. Since 1980, HVS International has provided consulting and valuation services for more than 8,000 hotels in all 50 states and over 60 foreign countries.

The Preston Robert Tisch Center for Hospitality, Tourism, and Travel Administration at New York University is a dynamic and growing educational and research center located in the heart of Manhattan. The Tisch Center offers an extensive complement of hospitality and tourism academic programs of study, including two bachelor�s degree programs and four master�s degree programs (two on-site and two online). In concert with its location in the financial and hotel capital of the world, coursework is focused on the areas of asset management, financial analysis, revenue management, customer relationship management, e-commerce, and information technology relative to the international hospitality and tourism industry. As entrepreneurial educators, administrators and faculty are experienced in the profession and bring the reality of the industry into the classroom. The Tisch Center�s motto encapsulates its uniqueness � The City is our laboratory, the industry is our faculty, and our students are the future of the profession.

New York University Annual International Hospitality Investment Conference

For 18 years, HVS International has played an integral role in New York University�s Annual International Hospitality Industry Investment Conference. Once again, our team of professionals looks forward to welcoming you to this prestigious event, which is scheduled for Sunday-Tuesday, June 3-5, 2001, at New York City�s Marriott Marquis Hotel.

Acknowledgements

Randy Smith of Smith Travel Research has provided the Survey�s historical operating data. Smith Travel Research continues to be the leading source of Hospitality Industry operating statistics. We would also like to thank Donna Quadri of Hotel RevMAX, a New York-based performance data company, which has provided comprehensive hotel statistics for this survey. Additionally, in cooperation with the New York University Preston Robert Tisch Center for Hospitality, Tourism, and Travel Administration�s Research Program, the data-gathering process was largely a contribution of two graduate students, Jean Gibbons and Peggy Yip, through the coordination of Dr. Mark M. Warner, Director for Graduate Programs. HVS International is pleased to have been a part of this enriching educational process.


Stephen Rushmore President HVS International	Frank P. Dougherty Senior Vice President HVS International	Michael Hay Senior Associate HVS International	Lalia Rach, Ed.D Associate Dean The Preston Robert Tisch Center for Hospitality, Tourism, and Travel Administration