In May 2021, Manhattan hotel occupancy rates jumped 29.7 percentage points over May 2020.
“I do see a thriving economy ahead of us, and I think people are eager to come and meet up with family, friends, events and such,” said city commissioner Usha Reddi. “So I do think that trend is going to go upward really fast. And it’s a very positive trend.”
Manhattan Convention and Visitors Bureau Director Karen Hibbard gave a report on hotel occupancy during the Manhattan city commissioners’ Tuesday meeting.
Hibbard also reported the Courtyard by Marriott hotel in Aggieville is slated to open mid-August — Aug. 5 or Aug. 12 — with 127 rooms.
“They have had supply chain challenges,” Hibbard said.
STR, a hospitality data and analytics company that compiles city hotel occupancy data, said occupancy in May 2021 was 59.4%, up from the 29.7% rate recorded in May 2020, two months into the coronavirus pandemic.
In May 2019, the city recorded 68.8% in hotel occupancy.
For the year 2021 through May, the city recorded hotel occupancy at 47.9%, up 7.9 percentage points for the rate recorded through May 2020, which was 40%.
Revenue per room rose by $42.75 from $22.94 in May 2020 to $65.69 in May 2021. That’s an increase of 186%.
The average daily rate in May 2021 was $110.38, up $33.03 from the $77.35 rate recorded during May 2020. That’s 42.7% increase.
The city’s hotel room numbers are down about 70 after owners of the Hampton Inn, 501 East Poyntz Ave., decided to permanently close the hotel after a January fire caused about $5 million in damage. Manhattan’s inventory dropped to 1,165.
Revenue per room through May 2021 was $44.47, up from the $35.05 recorded through May 2020. That’s an increase of $9.42 or 26.8%
Overall, hotel revenue jumped by almost $1.7 million through May 2021. Through May 2021, the overall revenue collected was $7.9 million. The overall revenue was $6.2 million through May 2020. That’s a 26.6% increase.
Eco devo request
Additionally, commissioners discussed a $533,080 2022 budget request for economic development from the Manhattan Chamber of Commerce. That’s the same amount requested for 2020 during pre-pandemic times. For 2021, the chamber asked for less with $383,080 because of the coronavirus pandemic. Commissioners did not formally approve the request Tuesday as it was a discussion item.
Reddi said she wanted the chamber to provide benchmarks to the commission about the return on investment with chamber programs before approving the item.
“As a teacher, I’ve always had to benchmark everything for presenting it to parents,” she said. “I would like to see that just being referenced.”
Development code
The commission also talked briefly with Chad Bunger, assistant director of community development for the city government, about the city’s new development code. Commissioners looked at a draft with Bunger.
“I am encouraged, I am hopeful that it will be as you have described it with simplicity, without sacrificing the quality that our community expects,” said commissioner Linda Morse.
The main goal of the new code is to put all the zoning and design information into one document and make it easier for the public to understand.
City administrators anticipate the commission will vote on adopting the new code in December.
"may" - Google News
July 15, 2021 at 01:00AM
https://ift.tt/3z18gEH
Hotel occupancy up 29.7 percentage points through May 2021 | News | themercury.com - Manhattan Mercury
"may" - Google News
https://ift.tt/3foH8qu
https://ift.tt/2zNW3tO
Bagikan Berita Ini
0 Response to "Hotel occupancy up 29.7 percentage points through May 2021 | News | themercury.com - Manhattan Mercury"
Post a Comment