If, like us, you've heard enough about doom cycles, plunging valuations and special servicers this year, let's head for the express elevator to the penthouse of real estate sectors and tell room service to send up some champagne.
Manhattan's luxury hotels are back: NYC's most luxurious digs are raking in the big bucks from a burst of tourism in the Big Apple.
In fact, NYC's luxury hospitality sector currently is notching a year-to-date RevPAR (revenue per available room) of $334, which exceeds the pre-pandemic level of $297 in 2019—three times higher than the RevPAR in June 2021, according to new data from STR.
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