NYC keeps drawing visitors at a massive pace, with 34.7 million annual arrivals in 2019 setting the stage for today’s hotel demand and revenue pressure. Yet even as RevPAR moved from $135.00 in 2019 to $116.00 in 2023, occupancy fell from 80.2% to 63.2%, revealing a hospitality market shaped as much by shifting capacity and costs as by travel. From 13% higher energy expenses to technology and sustainability preferences, the latest patternlines help explain why staffing, pricing, and guest expectations are tightening together more than you might expect.
Key Takeaways
- 34.7 million annual visitors to NYC (2019)
- 80.2% average hotel occupancy in NYC during 2019 (annual)
- 68.5% average NYC hotel occupancy during 2022 (annual)
- 63.2% average NYC hotel occupancy during 2023 (annual)
- $14.2 billion NYC hotel market value (2023)
- $2.3 billion NYC hotel construction pipeline (2024)
- $23.7 billion U.S. hotel investment volume (2023)
- NYC median household income: $83,000 (2022 ACS)
- NYC population: 8.8 million (2022 ACS)
- Avg hotel booking lead time for NYC: 18 days (2023)
- Energy costs increased 13% for hotels in New York in 2023
- 41% of hotel customers in the U.S. use mobile devices to complete reservations (2024 survey, U.S.)
- 78% of NYC hotel guests report that free Wi-Fi is a deciding factor when choosing a hotel (2023 survey)
- 7.3% increase in U.S. average daily rate (ADR) for hotels in 2024 compared with 2023
- $149.75 average U.S. ADR in 2024 (full year estimate)
NYC saw 34.7 million visitors in 2019, with occupancy and RevPAR easing since 2022.
Related reading
01 · Category
Economic Impact1 stats
01
34.7 million annual visitors to NYC (2019)
Interpretation
Economic Impact Interpretation
With 34.7 million annual visitors to NYC in 2019, the hospitality sector generated major economic impact by sustaining consistent demand from a vast customer base year after year.
02 · Category
Industry Trends15 stats
01
80.2% average hotel occupancy in NYC during 2019 (annual)
02
68.5% average NYC hotel occupancy during 2022 (annual)
03
63.2% average NYC hotel occupancy during 2023 (annual)
04
$135.00revenue per available room (RevPAR) in NYC during 2019 (annual)
05
$118.40revenue per available room (RevPAR) in NYC during 2022 (annual)
06
$116.00revenue per available room (RevPAR) in NYC during 2023 (annual)
07
1.1% annual change in NYC hotel supply (rooms) in 2023
08
3.4% annual change in NYC hotel demand (room nights) in 2023
09
62% of hotel travelers in the U.S. say sustainability influences where they stay (2024)
10
29% of hotel properties in the U.S. have implemented contactless check-in (2024 survey)
11
13.2% of hotel spend in the U.S. is booked on OTAs (OTA share of bookings, 2024)
12
3.6x increase in EV charging capacity at hospitality sites in New York between 2021 and 2023 (index growth)
13
86.4% of NYC hotel rooms had at least one sustainability certification program available on-property by 2024 (certification availability share)
14
1.9 GW of EV charging capacity in New York State by end of 2023 (statewide, includes hospitality sites context)
15
$1.34 billion annual value of hotel and motel tourism spending in the NYC metro area (economic contribution estimate)
Interpretation
Industry Trends Interpretation
Industry trends in NYC hospitality show that while occupancy slipped from an 80.2% average in 2019 to 63.2% in 2023, RevPAR also declined from $135.00 to $116.00, even as supply and demand grew in 2023 by 1.1% and 3.4% respectively.
03 · Category
Market Size3 stats
01
$14.2 billion NYC hotel market value (2023)
02
$2.3 billion NYC hotel construction pipeline (2024)
03
$23.7 billion U.S. hotel investment volume (2023)
Interpretation
Market Size Interpretation
For the market size in NYC hospitality, the $14.2 billion hotel market in 2023 is being actively scaled by a $2.3 billion construction pipeline in 2024, while broader U.S. hotel investment of $23.7 billion in 2023 signals strong capital support for the segment.
04 · Category
Demographics & Demand3 stats
01
NYC median household income: $83,000(2022 ACS)
02
NYC population: 8.8 million (2022 ACS)
03
Avg hotel booking lead time for NYC: 18 days (2023)
Interpretation
Demographics & Demand Interpretation
With a $83,000 median household income and an 8.8 million population supporting demand, NYC’s hotels book about 18 days in advance on average, suggesting steady, relatively well planned demand from a large, financially capable local market.
05 · Category
Cost Analysis1 stats
01
Energy costs increased 13% for hotels in New York in 2023
Interpretation
Cost Analysis Interpretation
In New York’s hotel cost analysis, energy expenses rose 13% in 2023, making utilities a clear and growing pressure point for hospitality operating budgets.
06 · Category
User Behavior2 stats
01
41% of hotel customers in the U.S. use mobile devices to complete reservations (2024 survey, U.S.)
02
78% of NYC hotel guests report that free Wi-Fi is a deciding factor when choosing a hotel (2023 survey)
Interpretation
User Behavior Interpretation
User behavior in NYC hotels shows a clear Wi Fi first mindset, with 78% of guests saying free Wi Fi is a deciding factor when choosing a hotel.
07 · Category
Financial Performance2 stats
01
7.3% increase in U.S. average daily rate (ADR) for hotels in 2024 compared with 2023
02
$149.75average U.S. ADR in 2024 (full year estimate)
Interpretation
Financial Performance Interpretation
Nyc hotels show strong financial performance momentum as the U.S. average daily rate rose 7.3% in 2024 versus 2023, reaching an estimated $149.75 for the full year.
More related reading
08 · Category
Investment & Capital1 stats
01
6.1% cap rate for select-service hotels in the U.S. (2024 pricing metric)
Interpretation
Investment & Capital Interpretation
With select-service hotels in the U.S. showing a 6.1% cap rate in the 2024 pricing metric, the Investment and Capital outlook suggests investors can anchor valuations and expected returns around this current income yield level.
09 · Category
Cost & Risk4 stats
01
1.5% of U.S. hotel industry labor costs attributed to payroll benefits in 2023 (share of labor expense)
02
4.7% of hotel operating expenses are property taxes (U.S. benchmark, 2023)
03
36% of hotel operators cite staffing shortages as a primary operational constraint (2024 survey)
04
8.6% year-over-year increase in hotel wages in New York (average wage change, 2023 vs 2022)
Interpretation
Cost & Risk Interpretation
In New York, rising labor costs are tightening budgets and increasing risk, with hotel wages up 8.6% year over year in 2023 and staffing shortages flagged by 36% of operators, while property taxes still take 4.7% of operating expenses.
10 · Category
Market Size & Scale1 stats
01
$2.8 billion in annual travel spending attributed to NYC lodging services (2023, economic contribution)
Interpretation
Market Size & Scale Interpretation
NYC lodging services generated $2.8 billion in annual travel spending in 2023, underscoring the market size and scale of the hospitality industry in the city.
11 · Category
Investment Activity1 stats
01
$23.8 billion U.S. hotel investment volume in 2022
Interpretation
Investment Activity Interpretation
In 2022, New York City saw $23.8 billion in U.S. hotel investment volume, signaling strong capital commitment that underscores rising momentum in the hospitality industry’s investment activity.
12 · Category
Industry Structure3 stats
01
1.0 million U.S. hotel rooms were projected for net addition by 2025 (industry pipeline forecast)
02
$182.0 million total NYC hotel construction starts in 2023 (annual starts reported)
03
3.2 years typical U.S. hotel development cycle from groundbreak to opening (industry planning metric)
Interpretation
Industry Structure Interpretation
Within the Industry Structure of NYC hospitality, the pipeline is building fast with a projected net addition of 1.0 million U.S. hotel rooms by 2025 alongside $182.0 million in construction starts in 2023, but the typical 3.2 year development cycle means those structural supply gains will take time to materialize.
13 · Category
Financial Health1 stats
01
3.6% growth in U.S. lodging industry revenue in 2023 vs 2022
Interpretation
Financial Health Interpretation
A 3.6% increase in U.S. lodging industry revenue in 2023 compared with 2022 signals improving financial health momentum, which is a positive backdrop for New York City’s hospitality sector.
14 · Category
Performance Metrics2 stats
01
2.1% year-over-year increase in U.S. hotel RevPAR in 2023 (annual, industry-wide)
02
0.9% of NYC hotel rooms were offline due to renovations during 2023 (availability reduction)
Interpretation
Performance Metrics Interpretation
For the performance metrics, NYC hotels saw demand resilience reflected in the 2.1% year over year increase in U.S. hotel RevPAR in 2023, even as NYC’s room availability was trimmed by 0.9% due to renovations.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Felix Zimmermann. (2026, February 13). Nyc Hospitality Industry Statistics. Gitnux. https://gitnux.org/nyc-hospitality-industry-statistics
MLA
Felix Zimmermann. "Nyc Hospitality Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/nyc-hospitality-industry-statistics.
Chicago
Felix Zimmermann. 2026. "Nyc Hospitality Industry Statistics." Gitnux. https://gitnux.org/nyc-hospitality-industry-statistics.
Sources & references
40 datasets cited across this report · attribution is report-level
+16 additional datasets cited (not shown individually)