NEW YORK — Tourico Holidays, a global wholesale travel brokerage, said 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.
The Hotel Pennyslvania is located on 7th Avenue and 33rd Street, directly across from Madison Square Garden and Penn Station.
“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.
Tourico Holidays is based out of Orlando and 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.