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13 Apr 2022

All Demand Segments Show Signs of Life for New York City Hotels

City Sees Rate and Occupancy Improving, Led by Social Events and Leisure

At Gansevoort Meatpacking, general manager Anton Moore said the corporate market is slowly picking up because clients are working remotely and have yet to return to the office. Technology and “local backyard” corporate business are also driving business to his property.

Moore said his property has been extremely fortunate to see a rise in group bookings, mainly from the corporate sector. The group market began to pick up in February and March, with a 20% uptick in group corporate. The hotel is seeing an increase in business from the automotive, technology, consulting, entertainment/production, social and fashion sectors.

Moore said Gansevoort Meatpacking has seen significant rate growth, primarily due to the property’ s top-to-bottom renovation and repositioning into the luxury lifestyle market, now competing with hotels in that category. ADR growth is up 28% compared with 2019.

The Gansevoort partners with the Meatpacking District BID to drive traffic to the neighborhood, Moore said, with events such as apple picking in the fall with Kate Spade, Dior’s fashion week pop-up, Halloween Treats in the Streets, and participating in the L.E.A.F Festival of Flowers in June. The hotel also partners with The Whitney Museum of American Art and the new Little Island — a park and performance space built on the Hudson River — both just a short stroll from the hotel.