AHLA Warns Proposed NYC FY27 Budget May Increase Hotel Costs, Threatening Jobs and Economic Recovery
💸 In testimony to the New York City Council’s Committee on Economic Development, the American Hotel & Lodging Association (AHLA) warned that proposed FY27 budget provisions could increase hotel costs and threaten NYC jobs. A 9.5% Real Property Tax hike and changes to the corporate tax structure are of concern. NYC hotels generate $38.4 billion annually and support 264,000 jobs. Each hotel room night contributes $1,168 in visitor spending, with a $4.9 billion tax revenue forecast for 2026.
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