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PwC Updates Manhattan Lodging Index

NEW YORK—In its latest data released concerning the Manhattan Lodging Index, PwC surmises the greatest impacts from a glut of supply added over the last 36 months may finally have peaked, although it noted average daily rates continue to suffer.

According to the data, in the second quarter, occupancy increased 1.1%. Year to date, a 3.1% increase in supply was offset by a 3.8% increase in demand, resulting in an increase in occupancy of 0.7% for first-half 2017. PwC noted room rates continue to suffer, with ADR down 1.5% for the quarter and 2% year to date.

Overall, PwC disclosed RevPAR decreased 0.4% in Q2 and 1.3% through the first six months.

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