Posts Tagged ‘Commercial’

New York City Tourism Industry Boosts Newark Hotel Market

April 1st, 2022

The Newark, N.J., hotel industry is thriving heading into 2012. While the continued evolution of the city’s entertainment, cultural and corporate draws can be credited in part for the strong performance, the real catalyst can be found in New York City’s burgeoning tourism industry.

According to a January 2011 press release from the office of New York City Mayor Michael Bloomberg, in 2010:

-48.7 million people visited New York City, up 6.8 percent from 2009.
-39 million of these visitors were from the U.S. and 9.7 million from abroad-both records.
-The hospitality industry added 6,600 jobs across all industry sub-sectors; the industry employs the most people in summer, and July 2010 set an all-time record for total jobs with 323,200.
-25.7 million room nights were sold, a new record, exceeding the previous high by 2 million room nights.
-Average daily room rates rose to $330 in December 2010, an 8.9 percent increase over 2009.

The mayor recently announced that the city’s hotel inventory will reach 90,000 rooms by the end of 2011. This record number represents a 24 percent increase over the past five years. More than 7,000 additional rooms are in the pipeline.

These numbers all translate to an overall upward trend for New York City’s $31 billion tourism industry, according to a recent press release from Mayor Bloomberg’s office. It reads: “The City is on track to reach a record number of visitors this year…occupancy remained at close to 85 percent, the highest in the nation.” In short, the city is on pace to meet its goal of attracting 50 million annual visitors by 2012.

What does this have to do with Newark? Simply put, New Jersey’s largest city is an outstanding cost alternative to Manhattan. Guests staying at four- and five-star hotels in Newark pay about half of what they would to stay in New York City. Yet they can still get there quickly and easily via an outstanding public transportation network. Newark Penn Station offers 15 minute transit to Manhattan with trains running 24/7. Newark’s strong transit infrastructure also includes a Light Rail line and bus service, as well as Newark Liberty International Airport.

Over the past few years, we have seen an influx of New York City visitors-especially international travelers-staying at our Best Western Robert Treat Hotel (located at 50 Park Place in Newark). While they may initially have been motivated by a recession-based drive toward savings, the trend has continued to gain momentum as the recovery takes hold.