Home » TRAVEL NEWS » Empire State Building Drives Tourism Growth In New York City
Published on
October 30, 2025
Empire State Realty Trust (ESRT), a firm based in New York City and a real estate investment trust (REIT) that owns legendary landmark properties like the Empire State Building, produced strong results for the third quarter of 2025. For one, the company’s flagship building garnered a sizeable share of revenue from its Observatory which, together with Tripadvisor’s 2025 Travelers’ Choice Awards which ranked the Empire State Building as the number 1 top attraction in New York City for the fourth year in a row, continues to be a major player in the New York City tourism market. This reflects further positive projections regarding revenue from tourism in the future.
Empire State Building Observatory’s Contribution to Tourism Revenues
A key highlight of ESRT’s performance was the Empire State Building Observatory’s exceptional contribution to the company’s overall income. The Observatory generated a net operating income (NOI) of $26.5 million for the third quarter of 2025. This represents a significant part of the company’s strategy to capitalise on the booming tourism sector in New York City. As a major tourist attraction, the Observatory continues to draw millions of visitors annually, further solidifying its place as a cornerstone of the city’s tourism industry.
The company’s performance underlines the growing importance of tourism in sustaining economic activity in New York City. With its reputation as the world’s most famous building, the Empire State Building attracts both international tourists and locals, cementing its role as a primary tourist destination. This is especially critical as the city continues to recover from the impacts of the COVID-19 pandemic, with tourism numbers gradually increasing year-on-year.
Tourism Trends and the Impact of the Empire State Building
As one of the most visited tourist destinations globally, the Empire State Building has maintained its prominence, even amidst broader changes in global travel dynamics. Despite some challenges faced by other tourist attractions, ESRT’s flagship asset has proven resilient, continuing to see steady growth in visitor numbers. The building’s observatory, which offers panoramic views of the city, plays a crucial role in New York’s tourism sector, attracting millions of visitors annually. According to government sources, New York City’s tourism is experiencing a resurgence, with increased international visitors contributing to the recovery of the local economy.
This growth is evident in ESRT’s overall financial performance. The company reported a 1.1 percent increase in Same-Store Property Cash Net Operating Income (NOI), after adjusting for non-recurring items. The consistent improvement in visitor figures is reflected in the company’s increased occupancy rates in its commercial and retail properties, further bolstering the region’s appeal as a leading destination for both leisure and business tourism.
Sustainability Efforts Enhance Tourism Experience
Empire State Realty Trust also stands out for its commitment to sustainability, an important factor for many tourists today. The company has earned the highest possible GRESB 5-Star Rating for the sixth consecutive year, with a score of 93. This recognition highlights ESRT’s dedication to improving environmental sustainability and creating a healthier indoor environment, an aspect that has increasingly become a priority for tourists seeking eco-friendly travel experiences.
Sustainability efforts extend beyond just operational performance. The Empire State Building itself has become a symbol of energy efficiency, appealing to environmentally conscious visitors. With green building certifications and a focus on reducing carbon footprints, the building offers not only an unforgettable view of New York but also an example of sustainable architecture in the heart of the city.
Impact on New York City’s Tourism Economy
Empire State Realty Trust and the role of the Observatory in streamlining tourism have continued success which exhibits importance for the tourism economy of New York city and beyond. Empire State Realty Trust has fortified his finances by diversifying into other tourism related services which, in turn, has strengthen the economy by creating more employment opportunities in the city as well the tourism frontier.
Tourism is one of the major industries in New York and with the continued expansion, the attraction of tourism by the Empire State Building is only destined to grow. New York city is blessed with some of the most iconic tourism sites which are instrumental in the city’s economic recovery by generating massive revenues which in turn fuels the hospitality and real estate industry alongside the services, retail and local enterprises.
Thus, it is the Empire State Realty Trust which has and will continue to be one of the instrumental components in the emerging tourism revival of New York city. The continuous improvement in the operational efficiency with aggressive market stances to develop the tourism facilities which improves the overall development of the city, helps the company reinforce its foundational role as the backbone for New York city’s economy driven by tourism.
