Hotel Dive
Jun 2
New York
CoStar and Tourism Economics upgraded their U.S. hotel performance outlook, forecasting a 2.8% year-over-year RevPAR increase for 2026, with New York City's hotel market being the strongest in the United States. This update was presented at the NYU International Hospitality Investment Forum in New York City.
Asian Hospitality
Jun 2
New York
New York City hotel rates are expected to rise following an 8-year union wage deal that will increase housekeepers' salaries by over 50% by 2032. Industry officials estimate this contract will raise annual operating costs by about 15%, potentially impacting tourism and business travel.
Bond Buyer
Jun 1
New York
The New York Convention Center Development Corporation is selling refunding bonds for the Javits Center, backed by a $1.50 per day Hotel Unit Fee (HUF) surcharge on New York City hotel rooms. Moody's Ratings upgraded the senior-lien CCDC bonds to A1 from A2, citing two consecutive years of above-trend pledged revenue growth, bolstered by a 2025 law allowing HUF to be levied on short-term rental units like Airbnbs.
HVS
May 29
New York
The Manhattan hotel market is well-positioned for continued economic success, supported by a robust tourism industry and an expanded convention center. A new Industry-Wide Agreement (IWA) for the Hotel and Gaming Trades Council (HTC) was ratified on May 21, 2026, effective July 1, 2026, through June 30, 2034, which includes wage increases for non-tipped workers.
Navigating Trade Show Tax Implications: A Guide to Sales Tax and Product Samples
Industry Publication
May 28
New York
Businesses attending trade shows must be aware of potential sales tax implications, as physical presence can create nexus. New York imposes a 14-day limit on trade show participation before a sales tax nexus is established, provided no in-state sales are completed during that time.