We will write a custom Report on Luxury Hotel in Manhattan: Rack Rate Strategy specifically for you
301 certified writers online
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.
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|
Table 1: The number of tourists that visited Manhattan in the past year.
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).
|New Years Day |
Martin Luther King Day
Memorial Day Independence Day
New Year’s Eve
|January 1 |
Third Monday in January
Third Monday in February
Last Monday in May
First Monday in September
Second Monday in October
Fourth Thursday in November
Table 2: showing the most important holidays and their dates in Manhattan.
Restaurant Week- the last week of January
Tax-Free Week-1stweek of February
Chinese New year- 2ndFebruary
St. Patrick’s Day parade – 17thMarch
Tribeca Film Festival-late April to early May
Fleet Week-last week of May
Belmont Stakes-second Saturday of the month
Gay Pride Parade- last Sunday in June
4thof July Macy’s Fireworks
US open-the final Saturday of the month
The Feast of San Gennaro-mid late September
Spring Fashion Week- mid-September
Broadway on Broadway-second Saturday of September
World Series-mid late October
CMJ Music Marathon-mid or late October
New York City Marathon- first Sunday of November
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.
DeMilleret, R. (2012). 2012 Manhattan Hotel Market Overview. 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.