financeCoStar··1 min·For: Owner, GM, Revenue, Investor, Marketing
New York City Leads U.S. Markets in Group Demand Growth
New York City has emerged as the leader among the top 25 U.S. markets for group demand growth, fueled by a revamped convention center and strict short-term rental regulations.
Key Takeaways
- 1Capitalize on the synergy between the Javits Center expansion and new supply in Manhattan's West Side to capture high-value corporate groups.
- 2Leverage the drastic reduction in short-term rental inventory due to Local Law 18 to drive higher ADR during peak event periods.
- 3Prepare long-term yield strategies for the 2026 FIFA World Cup, as New York currently leads the top 25 U.S. markets in forward group bookings.
Source: CoStar
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