U.S. hotel occupancy dipped 0.2% to 70.5% during the week of 20-26 October. ADR rose just 0.2% to $135, and RevPAR was flat at $95.15.
Total nonfarm payroll employment rose by 128,000 in October, and the unemployment rate was little changed at 3.6 percent. Food services and drinking places, social assistance, and financial activities added jobs. Employment fell in motor vehicles and parts manufacturing due to a strike.
Not a day goes by when 'business as usual' is not disrupted by the unexpected. The unexpected can take many forms: airline crashes, cyberattacks, hurricanes, power outages and even heinous criminal acts including human trafficking.
In the most recent Lodging Econometrics (LE) Construction Pipeline Trend report on New York City, LE states that New York City has a total of 155 projects/26,605 rooms in the construction pipeline, one of the top three largest pipelines in the U.S.