HVS 2009 Manhattan Hotel Market Overview

HVS Global Hospitality Services, in cooperation with New York University’s Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management, is pleased to present the twelfth annual Manhattan Hotel Market Overview. For most U.S. hotel markets, 2008 represented the first year of the recession; however, the Manhattan lodging market was able to weather the economic downturn during the first nine months of the year and closed 2008 with moderate growth, remaining the top-performing market in the U.S. An analysis of the monthly trends for 2008 reveals that the Manhattan market experienced a RevPAR increase of 9.0% through September, followed by its first decrease in RevPAR since June 2003 as the economic recession heightened