NEW YORK Hotels here in 2000 posted another record year for occupancies and ADR, according to PKF Consulting. Occupancy for 2000 in a sample of nearly 100 Manhattan hotels was 84.6%, the highest annual occupancy for New York City hotels in more than 50 years, surpassing the 81.2% recorded in 1999. ADR for the year was at an all-time high of $237.16, representing a 7.5% increase from 1999 and contributing to the RevPAR increase in 2000 of 12%.
Operating results for the month of December, however, were somewhat more conservative. While occupancy increased from December 1999, room rates did not. Occupancy for December 2000 was 77.9% compared with 75.8% in December 1999. ADR for the month decreased by 2.6%, the first decrease in room rates in eight years.
PKF Consulting expects that 2001 will bring a softening in occupancies from 2000 levels, although not to a major degree. This softening will occur primarily in the first half of the year. Room rates are expected to increase, albeit at a rate significantly lower than in 2000. (1/28/01)