Oh No, Tony! Broadway Attendance, Revenues Drop

Broadway theaters report that both attendance and reveneus dropped more than 10 percent from April 2007 to April 2008, according to the Federal Reserve's latest Beige Book. Attendance and revenues were down 3 percent annually in May, too.

Also, another tourist-dependent industry seems to have taken a mild hit recently. The Fed reports that Manhattan hotel room rates were up 7.5 percent in April from the same month last year and total revenues for hotels were up 6 percent during the same period. But! These are the smallest annual increases in more than two years.