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Coronavirus hits NYC hotel industry

Viceroy Hotel (Credit: Arden Group)

The coronavirus’ impact on global travel is sending tremors through New York City’s hotel industry, which was sagging from declining occupancy and revenue even before the China-originated pandemic struck, NYPost reported.

  • Be Smart: Chinese visitors to the city were the market’s largest-growing segment over the past 10 years.
  • By the numbers: The city attracted a record 70 million tourists in 2019, compared with 48.8 million in 2010. However, oversupply has begun to make its mark as there will be 144,000 hotel rooms by the start of 2022, compared with 87,000 in 2010… RevPAR was down through last November compared with the first 11 months of 2018.

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