hrHotel Dive··1 min·For: Owner, GM, Revenue, Ops, Investor
NYC Hotel Workers Ratify Historic Wage Contract
The Hotel and Gaming Trades Council has ratified a landmark agreement with the Hotel Association of New York, providing record wage increases and extended benefits through 2029.
Key Takeaways
- 1Prepare for significantly higher labor costs as the deal secures the largest wage increases in the union's history.
- 2Recognize that the contract extension to 2029 provides long-term labor stability and averts the threat of imminent strikes.
- 3Expect continued union pressure on safety and benefits, as the deal includes improved pension and healthcare contributions alongside wage hikes.
Source: Hotel Dive
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