New York City – 08 April 2015 – New York City is booming – more and more tourists visiting from China: Tourism in the Big Apple is booming. As expected by tourism experts the number of overnight stays of visitors from China will increase from currently 109 million to 175 million during the next five years. New York is the expected hot spot. About 54 Million tourists visit Manhattan every year. With around 350 hotels (appr. 82,000 rooms) the number of hotels is at a very high rate. In fact 46 further top hotels are in construction as TOPHOTELPROJECTS, the leading information provider for hotel chains and hotel construction projects reports.
The massive growth of hotel rooms constitutes pressure on operators. The average occupancy decreased by almost five percent to 68 percent and the average room rate decreased by 8 percent to 190 US-Dollar. The industry now relies on wealthy customers from China.
The number of Chinese tourists could be increased. With currently approximately 646.000 visitors from China the country is just in fifth place of incoming tourists. As comparison: More than 1,1 Million tourists from the UK visit NYC every year. JLL Hotels is monitoring a growing interest of Chinese investors for real estate in Manhattan.
Prime example is the spectacular sale of the Waldorf Astoria to Chinese investors at a price of two Billion US-Dollars in the past year. During the next five years the number of Chinese tourists in New York is expected to double itself to about one million tourists.
Top hotel projects in New York City (selection by TOPHOTELPROJECTS)
Four Seasons Private Residences New York, Downtown – 189 rooms – opening: autumn 2016
EVEN Hotel New York City 35th Street – 150 rooms – opening: autumn 2015
EVEN Hotel New York City – 230 rooms – opening: autumn 2015
Virgin Hotel New York – 475 rooms – opening: early 2017
Edition Hotel Times Square – 452 rooms – opening: early 2017