NYC Tourism Market Comeback Continues

On 17 August 2022 by Ethan Wolff

A varied swath of data speaks to tourism's return, both in NYC and nationally.

The CDC has ended its Covid guidance, suggesting the pandemic era is over. 95% of Americans ages 16 and older have acquired some level of immunity.
Inflation is having minimal impact on travel—79% of travelers will not cancel plans due to increases in costs.
Hotel prices and occupancy have risen worldwide; after a rough stretch January-March, the U.S. industry has stabilized.
Group travel to urban destinations has hotel REIT earnings beating 2019.
The travel industry is helping to slow inflation—falling prices for gas, airfare, and hotels lowered July numbers from historic highs.
The parent of Booking.com, Kayak, and Priceline beat second quarter estimates, up 57% from a year ago.
Expedia Group’s second quarter financials set records for highest ever revenue and lodging bookings.
Tripadvisor is almost on par with 2019 levels, up 77% against 2021.
The majority of Americans will travel over Labor Day weekend. Flight data suggests higher levels of plane travel than on July 4th or Memorial Day.

Bisnow reports that revPAR in Manhattan is now 5% above 2019 levels. BD Hotels principal Richard Born notes in the same piece that he's "shocked" by how well his Brooklyn hotels have performed. As LW Hospitality Advisors President and CEO Daniel Lesser put it, "The New York City tourism market is coming back with a vengeance, and candidly, I think smart money is investing in New York right now."

hymn to the big wheel

Arts Brookfield is exhibiting British artist Liz West’s immersive sculptural work Hymn to the Big Wheel. It's at Manhattan West until September 5th and then at Brookfield Place September 9th-25th. Photo by Jakob Dahlin.

CELEBRATING NYC TOURISM'S BEST

Tourists are back. Museums, attractions, hotels, restaurants and others are returning to pre-pandemic levels and the industry is recovering. It's time to throw a party celebrating difference makers in our industry!

This Fall Kickoff brings the industry together to celebrate “behind the scenes” individuals who make NYC a favored tourism destination. Day in and day out, these individuals go above and beyond to create great visitor experiences.

NYC Tourism Fall Kickoff
Tuesday, September 20th 5:30-8pm
Intrepid Museum | West 46th Street/12th Avenue
Recognition Ceremony @ 7pm
Tickets are available here

TOURISM MARKETING FORUM REPORT

esb view august 2022

Approximately 40 professionals came together yesterday at the Empire State Building to discuss summer and fall tourism trends. The forum was co-hosted by City Guide and Hospitality Sales and Marketing Association International (HSMAI). Overall there was optimism in the room. Most attendees said they had strong Junes and a solid July, with some softening in August. It wasn’t clear if this was due to summer doldrums, economic concerns, or airline cancellations. September is viewed as a wait and see. The general consensus was that the holiday season should be strong. Inquiries and bookings are trending up. Several attractions have increased the number of days they're open during the week. The feedback on international tourists was mixed, with some attendees reporting a strong return while others commenting it's still lagging other indicators.

An informative hotel presentation by Jennifer Hill, Vice President, Commercial Strategy for Kalibri Labs, noted that by next year all NYC hotel markets are projected to be at 91% of 2019 guest spends. Western European travelers are back, but they travel in smaller groups and spend less than the Brazilians and Chinese. People are booking later, with zero to 3 days now the strongest booking window.

LINKS OF INTEREST

NYC

Analysis from Fitch Ratings shows positive outlook for NYC, full tourism recovery expected
Hornblower exec on NYC tourism and deep-level experiences
Natural History Museum returns to daily operations
Restaurants and concerts driving Seaport comeback
(Not to mention Jean-Georges Vongerichten’s massive Tin Building food hall, now open)
(And Watermark’s Oktoberfest is back, starting September 2nd)
Fireman Hospitality Group opening a second location of Brooklyn Deli in late October in Times Square
SoHo to get a cannabis museum
Serafina launching three locations of new fast-casual Serafina Express
New York Times Food Festival will return October 8th
NYC crime at decades-long lows, although perception of danger is slowing city recovery
Herald Square posting city's highest retail vacancy rates at 42.4%

BEYOND NYC

As business travel bounces back, hotelier confidence rises
Is this a travel bubble or the new normal?
Cosmopolitan enters the travel business with CosmosTrips, a bespoke booking service for young travelers

CLOSING TIME

Jean-Georges Vongerichten’s Mercer Kitchen to close after 25 years
Trader Joe’s Wine Shop shutters abruptly after 15 years (with plans to relocate)

About the Author

Ethan Wolff is the author of numerous guidebooks to New York, having covered the city for more than two decades. He has written for New York Magazine, BlackBook, and Details, among others. In addition to his work as the editor of City Guide, Ethan covers NYC’s talk and lecture scene for the website Thought Gallery. He lives with his wife and two daughters in the Windsor Terrace neighborhood of Brooklyn.

New York City Activities

NYC Can Expect Strong Holiday Tourism Season

City Guide is expecting a strong holiday season for New York City. Nationwide indicators are promising, with intentions to travel very high and inflation having only a minimal impact on traveler plans. Advanced bookings are also promising, as is the news that NYC is adding jobs again. All of which point to a continued surge in city travel.

NYC Tourism Fall Kickoff + NYC Fall Openings

NYC's tourism industry gathered on the flight deck of the Intrepid Museum for the NYC Tourism Fall Kickoff celebration. 38 members of the tourism community were honored for their service to NYC visitors. Reports were very optimistic for the fall season, which is backed by the latest tourism data, and by a proliferation of high profile NYC openings.

New York City Fall Tourism Update

The traffic we see around the city, with returning tourists, students, and office workers, is backed by data. The MTA has recorded record highs for both subway and commuter rail in recent days. Nationally, data for recovery is also strong, with hotel pricing setting other records. (NYC's Labor Day weekend hotel numbers were among the nation's best, nearing 95% occupancy on Saturday night.)