Third-Party Reports / Manhattan Lodging Index Second Quarter 2020

Manhattan Lodging Index Second Quarter 2020

🕔 September 18, 2020
Manhattan Lodging Index Second Quarter 2020

Author: pwc

Description:

The COVID-19 pandemic continued to severely impair Manhattan hotels in the second quarter, as travel restrictions and business closures remained the new normal. With over 60,000 hotel rooms currently closed, widespread cancellation of group travel, and heightened economic uncertainty, second quarter revenue per available room (RevPAR) experienced a year-over-year decline of 81.6 per cent. This represents the largest decline in RevPAR in modern history for the market.

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