Beneath the ever-shifting skyline of New York City lies an economic powerhouse where hotels shattered revenue records, restaurants fueled a $28 billion boom, and 450,000 workers hustled to welcome a record-breaking 62.5 million visitors in a year of remarkable resurgence.
Key Takeaways
- In 2023, New York City had 706 hotels with a total of 118,000 rooms, representing a 2.3% increase from 2022
- The average occupancy rate for NYC hotels in Q4 2023 was 82.4%, up 4.1% year-over-year
- Manhattan's luxury hotels achieved a RevPAR of $512.67 in 2023, a record high with 15.2% growth
- In 2023, fine-dining restaurants in NYC numbered 1,250 with average check $150 per person
- NYC had 26,000 restaurants in 2023, generating $25.6 billion in sales, up 11% YoY
- Casual dining outlets in Manhattan totaled 4,200 in 2023, with 72% survival rate post-COVID
- Hospitality employment in NYC totaled 450,000 jobs in 2023, 12% of total workforce
- Average hourly wage for NYC hotel workers was $24.67 in 2023, up 6.2% YoY
- Restaurants employed 320,000 in NYC 2023, with 45% part-time roles
- NYC hospitality industry generated $45.2 billion in total revenue in 2023
- Hotel taxes contributed $1.8 billion to NYC coffers in 2023, up 14%
- Restaurant sales tax revenue: $3.4 billion in NYC 2023
- In 2023, NYC welcomed 62.5 million tourists, 95% domestic
- International visitors to NYC: 13.5 million in 2023, up 78% from 2022
- Average length of stay for tourists in NYC: 4.2 nights in 2023
New York City's hospitality industry saw record growth and revenue across hotels and dining in 2023.
Employment and Labor
- Hospitality employment in NYC totaled 450,000 jobs in 2023, 12% of total workforce
- Average hourly wage for NYC hotel workers was $24.67 in 2023, up 6.2% YoY
- Restaurants employed 320,000 in NYC 2023, with 45% part-time roles
- Female workers comprised 52% of NYC hospitality workforce in 2023, earning 88% of male wages
- NYC hospitality added 25,000 net new jobs in 2023 post-recovery
- Bartenders in NYC averaged $18.50/hour plus tips totaling $45K annual in 2023
- 28% of hospitality workers in NYC were immigrants in 2023, concentrated in kitchens
- Hotel front desk staff turnover rate was 42% in NYC 2023, highest in luxury segment
- Chefs and head cooks earned median $58,200 annually in NYC hospitality 2023
- NYC hospitality training programs graduated 12,000 workers in 2023 via CUNY/Hospitality Alliance
- Unionized hospitality jobs: 120,000 in NYC 2023, covering 32% of workforce
- Servers tipped average $25/hour effective in Manhattan restaurants 2023
- Disability employment in NYC hospitality: 4.2% participation rate in 2023
- Youth under 25: 18% of hospitality jobs, 65,000 positions in NYC 2023
- Housekeeping staff wages averaged $20.15/hour in NYC hotels 2023
- Remote/hybrid roles in hospitality admin grew to 8,500 in NYC 2023
- Hospitality unemployment rate in NYC dropped to 5.1% in Dec 2023
- Sommelier positions in NYC restaurants: 650 certified in 2023
- NYC hospitality workforce diversity: 45% minority-owned businesses employing locals 2023
- Managers in hospitality earned $72,400 median in NYC 2023
- Janitorial staff: 18,000 jobs in NYC hospitality, $19.80/hour avg 2023
- Event planners: 9,200 employed, $65K avg salary in NYC hospitality 2023
- Kitchen support roles turnover: 55% in NYC restaurants 2023
- Veteran employment programs placed 2,500 in hospitality jobs NYC 2023
- Concierge staff: 4,100 in luxury hotels, $28/hour plus bonuses 2023
- NYC hospitality apprenticeships: 3,200 enrolled, 85% retention rate 2023
- Gig workers (delivery): 45,000 in food service, $22/hour effective 2023
- Executive chefs: 2,800 positions, $95,000 avg salary NYC 2023
- Benefits coverage: 62% of full-time hospitality workers insured in NYC 2023
- Overtime hours in peak season: avg 12/week for 35% of staff NYC 2023
Employment and Labor Interpretation
While the city’s hospitality industry proudly boasts adding 25,000 new jobs last year and a workforce that’s majority female, it still operates on a foundation of part-time roles, stark wage gaps, and punishing turnover rates that reveal an economy running on passion, sweat, and tips rather than sustainable stability.
Hotels and Accommodation
- In 2023, New York City had 706 hotels with a total of 118,000 rooms, representing a 2.3% increase from 2022
- The average occupancy rate for NYC hotels in Q4 2023 was 82.4%, up 4.1% year-over-year
- Manhattan's luxury hotels achieved a RevPAR of $512.67 in 2023, a record high with 15.2% growth
- Brooklyn added 1,200 new hotel rooms in 2023, boosting borough occupancy to 78.9%
- NYC hotel ADR averaged $312.45 across all properties in 2023, with a 10.8% YoY rise
- In 2022, 65% of NYC hotels were independently owned, contributing 45,000 rooms
- Times Square hotels saw 91.2% occupancy in peak summer 2023, highest in five years
- Budget hotels in Queens reported 76.5% occupancy and $189 ADR in 2023
- NYC boutique hotels (under 100 rooms) numbered 210 in 2023, with 85.3% occupancy
- Extended-stay hotels in NYC grew by 18% in room count to 8,500 in 2023
- Upper East Side hotels had $425 average ADR in 2023, driven by 88% occupancy
- NYC hotels employed 52,000 workers in 2023, with room revenue at $4.2 billion
- Eco-certified hotels in NYC reached 45 properties with 12,000 rooms by 2023
- Airport hotels near JFK saw 84.7% occupancy in 2023 due to travel rebound
- NYC hotel supply grew 1.8% to 120,500 rooms projected for 2024
- In 2023, Midtown Manhattan hotels hosted 55% of all NYC tourists
- Short-term rentals (Airbnb) in NYC: 22,000 listings active in 2023, 75% occupancy
- Four-star hotels in NYC: 185 properties with 35,000 rooms in 2023
- Hudson Yards hotels saw 89.4% occupancy due to new developments 2023
- NYC hostels: 45 facilities with 8,200 beds, 92% occupancy in summer 2023
- Resort-style hotels in outer boroughs: 12 properties, $245 ADR average 2023
- Conference hotels in NYC: 95 venues with 50,000 rooms, booked 82% in 2023
- Historic hotels (landmarked): 28 in NYC, attracting 2.5M guests in 2023
- Pet-friendly hotels: 320 in NYC 2023, 15% premium on rates
- NYC hotel construction pipeline: 7,200 rooms under development for 2024
Hotels and Accommodation Interpretation
While the dream of an affordable New York City hotel room remains as elusive as a quiet subway car, the city's hospitality industry is booming with record revenues, packed luxury towers in Manhattan, and a hip, expanding frontier in Brooklyn, proving that even at over $300 a night on average, travelers will gladly pay a premium to be packed into a city that refuses to sleep.
Restaurants and Food Service
- In 2023, fine-dining restaurants in NYC numbered 1,250 with average check $150 per person
- NYC had 26,000 restaurants in 2023, generating $25.6 billion in sales, up 11% YoY
- Casual dining outlets in Manhattan totaled 4,200 in 2023, with 72% survival rate post-COVID
- Brooklyn's food trucks and carts reached 5,800 units, sales $450 million in 2023
- Michelin-starred restaurants in NYC: 72 in 2023, with 28 two-star and 4 three-star
- Fast-casual chains expanded to 1,100 locations citywide in 2023, avg sales $2.1M/unit
- NYC rooftop bars numbered 150 in 2023, contributing $300M in beverage revenue
- Ethnic restaurants comprised 68% of NYC total, with Asian cuisine at 22,000 outlets in 2023
- Delivery-only ghost kitchens in NYC hit 450 in 2023, processing 2.5M orders/month
- Fine casual restaurants grew 15% to 950 venues, avg revenue $4.8M in 2023
- NYC bars and taverns: 3,200 licensed, $5.2B sales in 2023
- Vegan/plant-based restaurants reached 650 in 2023, up 28% YoY
- Bronx eateries totaled 2,100, with Latin American cuisine at 65% market share in 2023
- NYC coffee shops: 4,500 locations, $1.8B revenue, average 1,200 customers/day per shop in 2023
- Staten Island restaurants grew 8% to 1,200 outlets in 2023, Italian dominant
- NYC pizzerias: 1,800 locations, $1.2B sales, average 500 pies/day per shop 2023
- Seafood restaurants: 450 in NYC 2023, peak sales $850M from coastal tourism
- Pop-up dining events: 1,200 held in NYC 2023, generating $45M revenue
- Farm-to-table restaurants: 380 certified in NYC 2023, 25% growth
- NYC steakhouses: 120 premium venues, average check $120/person in 2023
- Brewery taprooms: 85 in NYC 2023, $250M beer sales
- Outdoor dining plazas: 150 permanent setups post-2023, boosting sales 30%
- Halal restaurants: 2,200 in NYC 2023, serving 15% of food sales
- Wine bars: 220 in Manhattan 2023, $180M revenue from tastings
- Food halls in NYC: 25 venues with 450 vendors, 12M visitors in 2023
- Upscale cocktail lounges: 95 in NYC 2023, avg $22/drink
Restaurants and Food Service Interpretation
New York's restaurant scene is a spectacularly diverse, multi-billion dollar beast where your quest for a $150 tasting menu is powered by the same city that eats half a million pizza slices an hour and runs on coffee served at a pace that would give a barista a nervous breakdown.
Revenue and Economic Impact
- NYC hospitality industry generated $45.2 billion in total revenue in 2023
- Hotel taxes contributed $1.8 billion to NYC coffers in 2023, up 14%
- Restaurant sales tax revenue: $3.4 billion in NYC 2023
- Total visitor spending on food/bev in NYC: $12.6 billion in 2023
- NYC hospitality GDP contribution: $28.7 billion or 8.2% of city total in 2023
- Average hotel room revenue per available room (RevPAR) citywide: $256 in 2023
- Catering and events revenue in NYC hospitality: $2.9 billion in 2023
- Beverage alcohol sales in NYC bars/restaurants: $6.8 billion in 2023
- NYC small hospitality businesses (under 50 employees) generated $15.4B revenue 2023
- Luxury segment revenue: $8.2 billion from 120 high-end hotels in 2023
- Multiplier effect: each $1 hospitality spend generates $2.45 economic output in NYC 2023
- Property taxes from hospitality venues: $1.2 billion in NYC 2023
- Online booking platforms captured 42% of NYC hotel revenue, $3.1B in 2023
- NYC nightlife venues (clubs/bars) revenue: $4.1 billion in 2023
- NYC hospitality payroll taxes contributed $2.1 billion in 2023
- Direct jobs supported by tourism revenue: 380,000 in hospitality NYC 2023
- Food and beverage segment revenue: $28 billion total in NYC 2023
- Induced economic impact from hospitality wages: $12.4 billion in NYC 2023
- Corporate hospitality spend: $3.7 billion on events/meetings NYC 2023
- Tax incentives for hospitality recovery: $450M claimed in NYC 2023
- Average restaurant revenue per seat: $1,250 annually in Manhattan 2023
- NYC hospitality exports (international catering): $180M in 2023
- Sustainability investments in hospitality: $1.2B spent NYC 2023
- E-commerce share of restaurant sales: 22% or $5.6B in NYC 2023
- Loyalty program revenue lift: 18% higher sales in participating venues NYC 2023
Revenue and Economic Impact Interpretation
While New York City might run on coffee and ambition, it’s clearly fueled by a $45.2 billion hospitality engine where every cocktail shaken, every hotel pillow fluffed, and every late-night slice sold multiplies into the taxes, jobs, and economic vibrancy that keep the city’s heart beating.
Tourism and Visitors
- In 2023, NYC welcomed 62.5 million tourists, 95% domestic
- International visitors to NYC: 13.5 million in 2023, up 78% from 2022
- Average length of stay for tourists in NYC: 4.2 nights in 2023
- Hotel nights sold in NYC: 28.4 million in 2023, record post-pandemic
- Top origin for international tourists: UK with 2.1 million visitors to NYC 2023
- Leisure travelers spent $32 billion in NYC in 2023, 68% of total tourism spend
- Business travelers to NYC: 15.2 million trips in 2023, generating $9.8B spend
- Chinese tourists: 1.8 million visits to NYC in 2023, avg spend $1,800/trip
- Summer 2023 peak: 1.2 million monthly tourists staying in NYC hotels
- Family travelers: 42% of NYC visitors in 2023, favoring Brooklyn/Queens stays
- Event-driven tourists (conferences): 8.5 million attendees in NYC 2023
- Millennial visitors (25-40): 28 million to NYC in 2023, 45% of total
- Eco-tourists to NYC: 4.2 million in 2023, up 22%, seeking green hotels
- Repeat visitors: 71% of 2023 NYC tourists had prior visits
- Airport arrivals for tourism: 45 million passengers through NYC airports 2023
- French tourists: 1.4 million visits to NYC 2023, $1,650 avg spend
- Cruise passengers: 1.1 million docked in NYC ports 2023, $450M spend
- Solo travelers: 22% of NYC visitors in 2023, preferring boutique stays
- Gen Z tourists: 9.5 million to NYC 2023, focused on food experiences
- Canadian visitors: 3.2 million in 2023, top domestic market after NY state
- Cultural tourists (museums/theater): 41 million attractions visits tied to stays 2023
- Luxury travelers: 4.8 million, avg spend $3,200/trip in NYC 2023
- Adventure tourists (rooftop/walks): 2.9 million experiences booked 2023
- Off-peak winter visitors: 4.1 million in Q1 2023, up 15%
Tourism and Visitors Interpretation
New York City’s hospitality industry is being carried on the shoulders of a massive, diverse army of tourists, from loyal repeat visitors and free-spending millennials to a growing wave of eco-conscious adventurers, all of whom seem determined to prove that even a record-breaking $32 billion in leisure spending can't buy a hotel room longer than 4.2 nights.
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