City Guide NY: Business Travel Bounce Back for NYC
By EHTAN WOLFF
April 21, 2022
You can see tourism’s return in the streets of NYC and data supports it, particularly on the business travel front.
- In the next 6 months, 84% of business travelers are planning to make at leas one conference, convention or trade show trip according to the U.S. Travel Association
- Last month’s events volume skyrocketed 428% year over year, and 55% over the previous month
- Hyper growth mode: “The first three months of this year mark a decisive turnaround for corporate travel, based on statistics from a range of specialists”
- American Express Global Business Travel and TripActions report a business travel booking boom
NYC projects business travel will double to more than 9 million travelers this year. Weekend pedestrian traffic in Times Square has reached 94% of 2019 numbers as part of broad evidence of NYC recovery. The most recent occupancy numbers from HANYC covering April 2nd-9th are strong:
Occupancy: 77.3%
ADR: $261.16
RevPAR: $202.64
Allianz Partners has just released its summer travel projections and NYC has returned to the Top 10 of domestic destinations. As Daniel Durazo of Allianz Partners puts it, “‘Revenge travel’ is about to be taken to a whole new level.”