While the skyline may be the city's postcard, it’s the army of 458,200 diverse and dynamic workers—over 11% of all private employment—that truly powers New York's legendary hospitality.
Key Takeaways
- In 2023, New York City's hospitality sector employed 458,200 workers, accounting for 11.2% of the total private sector employment in the city.
- The hospitality industry in NYC saw a 5.2% year-over-year increase in employment from Q4 2022 to Q4 2023, adding 22,000 jobs.
- Women make up 52% of the hospitality workforce in New York City, with 238,000 female employees as of 2023.
- NYC hospitality industry generated $52.4 billion in economic output in 2022.
- Hotels in NYC contributed $14.2 billion to GDP in 2023, 27% of total hospitality impact.
- NYC restaurant sales reached $35 billion in 2023, up 15% from 2022.
- NYC welcomed 62.2 million tourists in 2023, generating $77 billion in economic impact.
- International visitors to NYC numbered 13.5 million in 2023, up 20% from 2022.
- Domestic leisure travelers spent $45 billion in NYC in 2023.
- NYC had 680 hotels with 118,000 rooms operational in 2023.
- Average Daily Rate (ADR) for NYC hotels was $285 in 2023, up 8% YoY.
- NYC hotel occupancy rate averaged 82% in 2023.
- NYC had 45,000 restaurants operating in 2023, serving 1.2 million meals daily.
- Fine dining establishments in NYC generated $12 billion in revenue in 2023.
- NYC casual dining sales reached $22 billion, up 10% in 2023.
New York's vibrant hospitality industry has powerfully rebounded, fueling economic growth and employment across the city.
Economic Impact and Revenue
- NYC hospitality industry generated $52.4 billion in economic output in 2022.
- Hotels in NYC contributed $14.2 billion to GDP in 2023, 27% of total hospitality impact.
- NYC restaurant sales reached $35 billion in 2023, up 15% from 2022.
- Tourism spending in NYC hospitality sectors totaled $28.6 billion in 2023.
- NYC hospitality paid $12.8 billion in wages and salaries in 2022.
- Tax revenue from NYC hospitality reached $3.9 billion in fiscal year 2023.
- NYC's food and beverage sector revenue grew 12% to $42 billion in 2023.
- Convention and event spending in NYC hospitality was $4.1 billion in 2023.
- NYC hotel occupancy taxes generated $650 million in 2023.
- Hospitality multiplier effect supported $78 billion in total economic activity in NYC in 2022.
- NYC bars and nightlife revenue hit $8.7 billion in 2023 post-recovery.
- Small businesses in NYC hospitality (under 50 employees) generated 55% of sector revenue in 2023.
- NYC hospitality capital investments totaled $2.5 billion in new developments in 2023.
- Visitor spending on NYC cultural attractions within hospitality was $6.2 billion in 2023.
Economic Impact and Revenue Interpretation
The numbers don't lie: New York’s hospitality industry is essentially a multi-billion-dollar welcome mat that pays the city's bills, fuels its culture, and keeps the entire economic engine humming, proving that a good meal and a great night out are anything but frivolous.
Employment and Workforce
- In 2023, New York City's hospitality sector employed 458,200 workers, accounting for 11.2% of the total private sector employment in the city.
- The hospitality industry in NYC saw a 5.2% year-over-year increase in employment from Q4 2022 to Q4 2023, adding 22,000 jobs.
- Women make up 52% of the hospitality workforce in New York City, with 238,000 female employees as of 2023.
- In 2022, average hourly wage in NYC hospitality was $22.45, 15% higher than the national average for the sector.
- NYC's food service and drinking places subsector employed 312,400 people in 2023, up 8% from pre-pandemic levels.
- 28% of NYC hospitality workers are immigrants, contributing to 128,000 jobs in the sector in 2023.
- Hotels in NYC employed 45,200 workers in 2023, with a 12% recovery from 2019 peaks.
- The arts, entertainment, and recreation segment within hospitality added 15,600 jobs in NYC in 2023.
- Unemployment rate in NYC hospitality dropped to 4.8% in 2023 from 12.5% in 2021.
- Part-time workers constitute 35% of NYC hospitality employment, totaling 160,000 individuals in 2023.
- NYC hospitality workforce aged 25-34 years old represents 42% or 192,000 employees in 2023.
- Black and Hispanic workers hold 48% of hospitality jobs in NYC, equating to 220,000 positions in 2023.
- Traveler accommodation subsector in NYC had 68,900 employees in 2023, growing 10% YoY.
- NYC hospitality saw 18,000 new jobs from events and conventions in 2023.
- Front-line service roles like waitstaff numbered 145,000 in NYC hospitality in 2023.
- Management positions in NYC hospitality grew by 7% to 32,500 in 2023.
Employment and Workforce Interpretation
Despite nearly recovering to pre-pandemic employment levels with a diverse, young, and majority-female workforce that fuels the city's vibrant culture, New York's hospitality industry still leans heavily on part-time roles and immigrant labor while offering wages that, while above the national average, underscore the relentless hustle required to keep the city that never sleeps fed, entertained, and accommodated.
Hotels and Accommodations
- NYC had 680 hotels with 118,000 rooms operational in 2023.
- Average Daily Rate (ADR) for NYC hotels was $285 in 2023, up 8% YoY.
- NYC hotel occupancy rate averaged 82% in 2023.
- Luxury hotels in Manhattan achieved 89% occupancy and $450 ADR in 2023.
- NYC added 2,500 new hotel rooms in 2023, mostly in Brooklyn and Queens.
- RevPAR for NYC hotels reached $234 in 2023, highest since 2019.
- Budget hotels in NYC saw 15% revenue growth to $1.2 billion in 2023.
- Times Square hotels reported 92% occupancy during New Year's 2023.
- NYC boutique hotels (under 100 rooms) numbered 250 in 2023.
- Hotel employment in Midtown Manhattan was 25,000 in 2023.
- NYC hotel tax revenue from rooms was $1.1 billion in 2023.
- Extended-stay hotels in NYC grew 20% in occupancy to 75% in 2023.
- Manhattan hotel supply stabilized at 65,000 rooms in 2023.
- NYC independent hotels captured 18% market share in 2023.
- Peak summer ADR in NYC hotels hit $320 in July 2023.
Hotels and Accommodations Interpretation
New York's hotel industry in 2023 operated like a well-oiled machine running slightly hot, where guests paid premium prices for the privilege of squeezing into 82% of its 118,000 rooms, a feat that generated a staggering $1.1 billion in tax revenue and proved that whether it's a $450-a-night luxury suite or a budget room, people will gladly fund the city's constant, bustling encore.
Restaurants and Bars
- NYC had 45,000 restaurants operating in 2023, serving 1.2 million meals daily.
- Fine dining establishments in NYC generated $12 billion in revenue in 2023.
- NYC casual dining sales reached $22 billion, up 10% in 2023.
- Bars and nightclubs in NYC numbered 4,200 with $9.5 billion sales in 2023.
- Average check per person in NYC restaurants was $45 in 2023.
- Fast-casual chains expanded to 1,500 locations in NYC in 2023.
- NYC rooftop bars saw 25% revenue increase to $1.8 billion in 2023.
- Independent restaurants comprised 85% of NYC's 45,000 eateries in 2023.
- Delivery and takeout accounted for 28% of NYC restaurant revenue in 2023.
- Michelin-starred restaurants in NYC totaled 72 in 2023.
- NYC pizzerias numbered over 1,800, generating $2.1 billion in 2023.
- Craft cocktail bars in Manhattan hit 450 venues with $1.2 billion sales in 2023.
- NYC restaurant occupancy averaged 88% post-lunch rush in 2023.
Restaurants and Bars Interpretation
While the city may debate what constitutes a true slice, New York’s culinary ecosystem runs on a serious blend of independent hustle and universal appetite, proving that whether it's a $45 check or a billion-dollar rooftop, everyone shows up to eat—or at least to post a picture of it.
Tourism and Visitors
- NYC welcomed 62.2 million tourists in 2023, generating $77 billion in economic impact.
- International visitors to NYC numbered 13.5 million in 2023, up 20% from 2022.
- Domestic leisure travelers spent $45 billion in NYC in 2023.
- NYC convention attendees reached 5.2 million in 2023, boosting hospitality.
- Average length of stay for NYC tourists was 5.8 nights in 2023.
- 78% of NYC visitors stayed overnight in 2023, totaling 48 million overnights.
- Chinese tourists to NYC increased 35% to 1.2 million in 2023.
- NYC summer tourism peaked at 16 million visitors in Q3 2023.
- Business travelers accounted for 22% of NYC visits, 13.7 million in 2023.
- NYC's Broadway shows attracted 14.6 million theatergoers in 2023.
- Repeat visitors made up 65% of NYC tourists, 40.4 million in 2023.
- Millennial travelers (25-40) represented 42% of NYC visitors in 2023.
- NYC cruise passengers totaled 1.1 million in 2023.
- Group tours brought 2.8 million visitors to NYC in 2023.
- Off-season (Jan-Mar) NYC visitors hit 14 million in 2023.
- NYC hotel nights sold reached 28 million in 2023.
Tourism and Visitors Interpretation
New York City isn't just surviving on a dream; it's running a highly lucrative, multi-billion-dollar engine fueled by millions of tourists who, statistically speaking, can't seem to get enough of its overpriced hotel rooms and indelible Broadway magic.
Sources & References
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