Home > Free Essays > Tourism > Hotels > Luxury Hotel in Manhattan: Rack Rate Strategy

Luxury Hotel in Manhattan: Rack Rate Strategy Report

Exclusively available on IvyPanda Available only on IvyPanda
Updated: Feb 26th, 2021

Introduction

Unlike other boroughs in New York City, Manhattan is renowned globally to the extent that some of its tourist attraction sites have become national symbols (Spilsbury, 2012). This elongated and narrow aisle is a unit of New York City’s five districts. Some of the district’s major tourist attraction sites are Central Park, The Empire State Building, The United Nations, Apollo Theatre, Rockefeller Centre, Guggenheim Museum, and the World Trade Centre site. The district is adjacent to the Greenwich Village, Chelsea, East Village, the Upper East Side, Times Square, and Harlem neighborhoods. This article assesses the tourism industry in Manhattan.

Discussion

The borough attracts tourists all year round. However, the number of tourists is higher in summer and autumn (DeMilleret, 2012). The distinct tourist seasons in Manhattan are peak season, off-season, and shoulder season. The peak season is experienced between September and December. Unlike in other major cities, the peak season is experienced during autumn rather than in summer. The off-season is experienced between January and April. During this period, hotel prices are at their lowest due to the decreased numbers of tourists. Shoulder season is experienced between May and August. During this season, the number of tourists visiting the area rises steadily (Swanson, 2013). Table 1 below illustrates the approximate numbers of tourists that visited the area during the year 2012.

Month Number of tourists in millions
January
February
March
April
May
June
July
August
September
October
November
December
3.2
2.8
3.08
3.44
3.64
3.34
3.34
3.34
3.68
3.56
3.68
3.56

Table 1: The number of tourists that visited Manhattan in the past year.

Conclusion

The market-wide occupancy is anticipated to stay low to the mid 80% range up to the year 2014. Thereafter, the average rate is projected to grow as the national economic recovery progresses, and the overall occupancy stays close to maximum-level capacity. By April 2013, the number of luxury hotels in Manhattan was 348. All these hotels’ rooms were approximated at 82, 000. Among the top hotels in the region are Mandarin Oriental, Four Seasons, The Pierre, The Carlyle, Ritz-Carlton, and The Surrey. Manhattan’s most important holidays and events are shown in table 2 and 3 below (Parker, 2009).

National holidays Date
New Years Day
Martin Luther King Day
Valentine’s Day
Presidents Day
Memorial Day Independence Day
Labour Day
Columbus’ Day
Halloween
Veterans Day
Thanksgiving Day
Christmas Day
New Year’s Eve
January 1
Third Monday in January
February 14
Third Monday in February
Last Monday in May
July 4
First Monday in September
Second Monday in October
October 31
November 11
Fourth Thursday in November
December 25
December 31

Table 2: showing the most important holidays and their dates in Manhattan.

January
Restaurant Week- the last week of January
February
Tax-Free Week-1stweek of February
Chinese New year- 2ndFebruary
March
St. Patrick’s Day parade – 17thMarch
April
Tribeca Film Festival-late April to early May
May
Fleet Week-last week of May
June
Belmont Stakes-second Saturday of the month
Gay Pride Parade- last Sunday in June
July
4thof July Macy’s Fireworks
August
US open-the final Saturday of the month
September
The Feast of San Gennaro-mid late September
Spring Fashion Week- mid-September
Broadway on Broadway-second Saturday of September
October
World Series-mid late October
CMJ Music Marathon-mid or late October
November
New York City Marathon- first Sunday of November
December
Radio City Music Hall Christmas spectacular-early November to early January
New Year’s Eve Ball Drop –31stDecember

Table 3: showing the best-celebrated events in Manhattan.

References

DeMilleret, R. (2012). Web.

Parker, R. B. (2009). Night and day. New York: G.P. Putnam’s Sons.

Spilsbury, R. (2012). Tourism industry. New York: Rosen Central.

Swanson, J. (2013). Tourism Policy and Planning Yesterday, Today, and Tomorrow.. Hoboken: Taylor and Francis.

This report on Luxury Hotel in Manhattan: Rack Rate Strategy was written and submitted by your fellow student. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.
Removal Request
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda.
Request the removal

Need a custom Report sample written from scratch by
professional specifically for you?

Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar

certified writers online

Cite This paper

Select a referencing style:

Reference

IvyPanda. (2021, February 26). Luxury Hotel in Manhattan: Rack Rate Strategy. Retrieved from https://ivypanda.com/essays/luxury-hotel-in-manhattan-rack-rate-strategy/

Work Cited

"Luxury Hotel in Manhattan: Rack Rate Strategy." IvyPanda, 26 Feb. 2021, ivypanda.com/essays/luxury-hotel-in-manhattan-rack-rate-strategy/.

1. IvyPanda. "Luxury Hotel in Manhattan: Rack Rate Strategy." February 26, 2021. https://ivypanda.com/essays/luxury-hotel-in-manhattan-rack-rate-strategy/.


Bibliography


IvyPanda. "Luxury Hotel in Manhattan: Rack Rate Strategy." February 26, 2021. https://ivypanda.com/essays/luxury-hotel-in-manhattan-rack-rate-strategy/.

References

IvyPanda. 2021. "Luxury Hotel in Manhattan: Rack Rate Strategy." February 26, 2021. https://ivypanda.com/essays/luxury-hotel-in-manhattan-rack-rate-strategy/.

References

IvyPanda. (2021) 'Luxury Hotel in Manhattan: Rack Rate Strategy'. 26 February.

More related papers
Psst... Stuck with your
assignment? 😱
Hellen
Online
Psst... Stuck with your assignment? 😱
Do you need an essay to be done?
What type of assignment 📝 do you need?
How many pages (words) do you need? Let's see if we can help you!