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In recent years, as the dollar weakened, tourism remained high and helped bolster the city's economy. However, the faltering economy's repercussions are starting to hurt the hotel sector. The Marriott Marquis's general manager tells Crain's, "The financial markets have scared off a lot of different companies that we do business with.” And a budget hotel operator tells the Times, "There’s hesitancy in bookings. We hold our breath and fill up rooms at the last minute. Occupancy has been weaker in October, traditionally one of the strongest months.” The hotel industry is reiterating their opposition to any hotel tax hike, but given the hard times, it's possible the City Council might try to pass one--City Councilman Lew Fidler says an extra $70 million/year could be raised, "The idea of not reaching into the pocket of foreign tourists before reaching into the pocket of New Yorkers is offensive."
NYC Hotels Feeling Effects of Downturn
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the cops have busted the block of canal street near pearl paint.
I talked to them and they said that
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Good. Hotels are too expensive as it is.
That hotel tax is a killer, I understand it is 21%. If a reasonably priced room, in a decent hotel is $300. and you stay 5 nights you have to bring an extra $315. with you. That'll help bring in the tourists.
The reason there's a downturn in hotel occupancy is because the Euro and Pound just fell back to its relative equality with the Dollar. Say goodbye to NYC as the international shopping mecca until that changes.
Good. I hope prices plummet as well. A 2-3 star hotel shouldn't cost $400 a night.
Disgraceful the rates they charge for some of these hotels
fuck them and the goddamn tourists
yes the lectures on the lost tax revenue are coming-how can NY survive? crime will come back! riots! looting
whatever I for one wil be glad to see the fucking tourists gone
how's robert deniro's hotel doing? he's one of the mayor's best buds.
you mean tourists won't be coming to NYC anymore?
Yes, business travelers are the bread and butter of many mid and small sized properties, but it's actually increased use of the web, video conferencing etc., that has killed business travel, not the current economic situation. This has been headed down the pipe for a while.
The hotel industry was seeing a drop in occupancy for the last year. It began with gas prices, and then the shenanigans with the entire airline industry, so this isn't news to everyone that works in hospitality.
The hotel tax is irrelevant. It's annoying, but truthfully anyone planning a vacation to NYC has enough scratch that it doesn't have any actual effect in the numbers. NYC is a luxury destination, even for 'backpackers' and families save their entire lives for a trip here and go whole hog.
The TIA, and the travel industry in general, have some of the worst methods and analysis of their stats as it is, so I also don't put much stock in any 'We're Hurting' stories. The margin for most hotels is north of 30% per room, and places in NYC have an even more absurd splits.
Overall NYC will always be the top tourist destination in the US, and even if tourism drops a bit, just be glad Manhattan isn't Eureka Springs, Saint Augustine or another 2nd tier travel city. Those are the places that are really hurting from the economic situation.
Brilliant idea, tax the tourists you're trying to attract a little bit more. That's just as smart as taxing capital gains when you're trying to attract capital back into the markets. Guess which presidential candidate subscribes to this counterproductive philosophy?
Tax the Republicans.
I'm all for taxing tourists more. New York is a major destination that everyone wants to visit. It's high on the itinerary for most international travelers, and the ones who can afford to come here can also manage the associated taxes.
When there was a transit fare hike, who was hit the hardest? Not the visitors with weekly passes and pay-per-ride, it was the New Yorkers who predominantly buy monthly passes.
Property taxes, utilities, both going up.
If you're going to reach into anyone's pocket, you should reach into everyone's pocket. Stop acting offended.
ugh, good. New York hotels get away with so much crap and the quality of hotel per dollar is deplorable in this city, perhaps only rivaled by that of London (where I have had more success in finding good, value rooms).
Even the bedbugs are holding out for a better rack rate.