NEW YORK--(BUSINESS WIRE)--Tourico Holidays, a global leader in wholesale travel brokerage, today announced that it has extended its distribution agreement with Hotel Pennsylvania, the third largest hotel in New York City, by committing to purchase a quarter of the hotel’s rooms available through the end of 2016.
“Tourico and Hotel Pennsylvania have been distribution partners for the last 20 years, but this agreement marks the largest single hotel commitment in our company’s history,” said Dermot Quigley, Executive Vice President of Global Product Development for Tourico Holidays. “Our ability to support one of the largest hotels in New York City with significant daily occupancy numbers is a testament to our unparalleled distribution network.”
New York City has been Tourico Holidays’ top revenue earning destination in the world since the company launched in 1994. In 2016, the company has increased its local risk portfolio by an additional $40 million and is pacing 40 percent higher revenue than this time last year. In fact, Tourico’s confirmed sales in New York City for the fourth quarter of 2016 are already a 100 percent year-over-year increase.
Committing to 25 percent of Hotel Pennsylvania’s 1,700 rooms will help Tourico ensure its clients always have access to quality hotel rooms in New York City, at industry-leading rates – even during peak season. The commitment will also allow Hotel Pennsylvania to ensure a bulk of its inventory will be sold consistently – without any added overhead.
“Tourico was well ahead of its competitors, becoming the first to pre-buy hotel room blocks in 1995 and, two decades later, we are still innovating and leading the industry with our unprecedented exclusive deals,” said Quigley.
About Tourico Holidays
Tourico Holidays is a leading global travel distribution company that contracts directly with travel providers, such as hotels, flights, cruise lines, attractions, car rentals, vacation homes and more. Tourico Holidays works on a high-volume, wholesale model to broker this inventory to over 4,600 clients in 100 countries using proprietary technology.
About New York's Hotel Pennsylvania
Since 1919, New York's Hotel Pennsylvania has been host to millions of visitors to Manhattan, more than any other hotel in the world. The hotel is one of only two hotels in Manhattan to earn the prestigious ENERGY STAR award, which exemplifies superior energy performance and efficiency. With 1,700 rooms and over 24,000 square feet of function and adjacent exhibit space, the hotel's location on 7th Avenue at 33rd Street is conveniently located to the Midtown business district and within walking distance to many of Manhattan's famed tourist attractions, including Times Square, the Theater District and the Empire State Building. Directly across from Penn Station and with most major subway lines within one block makes getting to and around Manhattan exceptionally easy. Reservations can be made on-line at New York's Hotel Pennsylvania.