New data reports record-breaking growth for the hospitality sector in the Philadelphia region of the United States.
The region has been ranked number one among the top 25 markets nationally in year-over-year growth in group demand. Total hotel room revenue of $332.2 and hotel occupancy rates of 79.5% both set modern day records for the first half of the year.
Julie Coker Graham, CEO of the Philadelphia Convention and Visitors Bureau (PHLCVB), said: “Through the first half of the year, Center City hotels sold 102,000 more rooms compared to the same time last year.
“More than half (56%) of this growth came from the group market. This business is generated in partnership with the sales teams from the PHLCVB, the Pennsylvania Convention Center and our hotel partners.”
The continued increase in demand from the group market comes at a good time as Philadelphia is in the midst of a hotel boom. Two hotels have opened in 2018 and several new properties are scheduled to open throughout 2019.
Group demand continues to look strong throughout 2019, as does overseas and domestic leisure visitation, leading to an optimistic outlook for the overall market.
John McNichol, CEO of the Pennsylvania Convention Centre (PCC), said: “The performance year to date has been memorable, as this type of activity can have a lasting effect on the hospitality industry and the region’s economy as a whole.
“When a group comes to the PCC and stays in Philadelphia, the attendees don’t just fill hotel rooms, but they shop and visit our restaurants and attractions, helping to support many of the 73,000 hospitality related jobs in Philadelphia.”