Home | Business News | Browse by Publication | B | Business Travel News

NYC hotels show strength.

Publication: Business Travel News
Publication Date: 17-JAN-05 		Format: Online - approximately 928 words
Delivery: Immediate Online Access

Article Excerpt
The recovery of the New York hotel market, which Gathered momentum through 2004, gained even greater strength in November the most recent month for which figures are available. For travel managers, the turnaround in the New York market made 2005 rate negotiations unexpectedly difficult. With New York's surging occupancy levels, average daily rates and revenue per available room outstripping the national averages, even buyers who expected to bring significant room night volume to the city faced demands for stiff rate increases. Buyers may have negotiated average rate increases of 3 percent to 6 percent in other cities, but in New York, hotels were asking many buyers to accept rate hikes of 10 percent or more.

"Requests for increases consistently have been in the double digits," said Kevin Maguire, manager of corporate travel and fleet services for Tokyo Electron...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Business Travel News
Sydney focuses on corp. mtgs., nearly triples Asian biz., January 17, 2005
TSA analyzes PNR data., January 17, 2005
Bomb-sniffing dog teams deployed at 11 new airports., January 17, 2005
IBTM hires hands to help build ROI tool., January 17, 2005
Pharma co. irons out profile seams., January 17, 2005

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.