New York City’s hotels broke their pandemic-era occupancy record as tourists flocked to the city’s neighborhoods to take in holiday lights, attend business or social events and head to the theater.
The occupancy rate for city hotels was 81.5% for the week that ended Dec. 11, according to STR, which tracks the industry.
That was the leading rate for all U.S. hotel markets tracked by the firm.
“On Saturday the 11th, we were sold out at insane rates,” said Michael Achenbaum, president of the Gansevoort Hotel Group.
The Gansevoort in the Meatpacking District recently completed a renovation, so rates had gone up to reflect the update.
→ Continue reading at Crain's New York Business