PR: NYC Leads in Tourism Growth

Contacts: Chris Heywood, NYC & Company, 212/484-5458Kimberly Spell, NYC & Company, 212/484-1270

NEW YORK CITY CONTINUES TO LEAD U.S. IN TOURISM GROWTH

�Travel Gains for 2006 Counter National Downward Trend and Show Growth in International and Domestic Markets�

New York, NY (July 30, 2007) � New York City continues to lead U.S. cities in tourism growth with record numbers in 2006, according to numbers released this month by NYC & Company. The statistics show that New York City welcomed a record 43.8 million visitors last year, a 2.8% increase over 2005. This growth pumped more than $24 billion in economic activity into New York City. The gains mirror forecasted numbers announced in December 2006 by Mayor Michael R. Bloomberg."Our tourism industry is enjoying continued growth" said Jonathan Tisch, Chairman of NYC & Company. "New York City was the only major city in the United States to show increases in overseas travel last year, bucking the national trend. In fact, in 2006, the City grew its share of U.S. overseas travel from 27% to 29%, a gain of 409,000 visitors, and is ahead of schedule in reaching Mayor Bloomberg's goal of attracting 50 million visitors by 2015."Overseas travel to the U.S. declined 17% from 2000 to 2006 while New York City has seen steady growth from this market segment. In 2006, overseas travel to the U.S. was flat while New York City showed a 7% increase from 5,810,000 to 6,219,000. The City's number one overseas market, the United Kingdom, also showed a gain of 4%, from 1,123,000 visitors to 1,169,000.Overall, international travel, including Canada and Mexico, increased 6.5% compared to 2005, representing a gain of 440,000 person trips over the 2005 record performance. Total international travel was 7,257,000 visitors. New York City continues to serve as the number one overseas travel destination in the country.Domestic travel has risen each year since 2000, and 2006 showed a gain of 710,000 person stays, a 2% rise. Comparatively, the U.S. showed only a .4% increase year-over-year. Combined domestic business and leisure travel reached a record 36,540,000 U.S. visitors last year.To build on this increasing trend, NYC & Company opened seven new overseas satellite offices in the first half of 2007 throughout Europe and Asia, capitalizing on international leisure travel, a segment characterized by longer lengths of stay and higher visitor spending levels.Hotel occupancies in the city also continue to show increased economic health. Overall city occupancy in May 2007 closed in at 89%, with an average daily room rate of $300.New hotel development throughout the city's five boroughs is expected to help meet increased visitor demand, with nearly 13,000 new or renovated hotel rooms being added to hotel room supply by 2010, expanding the total of 72,150 rooms to 85,000. Manhattan alone will gain 50-plus hotels and 8,000 rooms over the next three years, representing the largest increase ever.

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About NYC & Company:

NYC & Company is the official marketing, tourism and partnership organization for the City of New York, dedicated to maximizing travel and tourism opportunities throughout the five boroughs, building economic prosperity and spreading the positive image of New York City worldwide.