Halftime Report: Center City Philadelphia Hotels Having A Record Year

Hotel Business magazine has named Philadelphia the “market to watch” in its latest issue, saying the city is currently “home to a thriving hotel market.” So far in 2018, Center City Philadelphia hotels are enjoying record performance. VISIT PHILADELPHIA^® announced today that occupancy for the first six months is beating last year—79.5% in 2018 vs. 77.0% in 2017 (January through June). This record performance comes amid big development for Philadelphia’s hotels, with more than 1,500 rooms in nine new hotels slated to open through 2019.

Demand Outpacing Supply:

Center City hotels reported record bookings in the first half of 2018. From January through June, hotels sold 1,725,955 room nights—up 6.3% from the first half of 2017. This strong performance comes at the same time as a boom in hotel supply: During the first six months of 2018, Center City Philadelphia added 62,150 room nights—a 2.9% increase in available room nights. In that time, two new hotels—the Cambria Hotel Philadelphia Downtown Center City and the Fairfield Inn & Suites Philadelphia Downtown/Center City—opened their doors.

“We’re thrilled to see Center City Philadelphia’s hotel market continue to build momentum,” said Meryl Levitz, president and CEO of VISIT PHILADELPHIA. “In 22 years of consistently marketing Philadelphia as a leisure destination, we’ve seen more and more hotel development each year, and, in 2018, we continue to meet—and exceed—the demand.”

Average daily rates (ADR) are up too. From January through June, Center City hotels’ ADR was up 4.5% at $190, compared to $182 during the same time last year. This six-month ADR marks a record high.

Day-of-the-Week Performance:

Performance shows growth in every night of the week, too. In the first half of 2018, every day of the week saw higher average occupancy and ADR compared to the previous three years.

“Visitors are choosing Philadelphia as an overnight destination all year along—during every season and every day of the week,” Levitz said.

Saturday night—an indicator of a destination’s leisure strength—remained the highest. Saturday night occupancy reached a record 91.6%, over 90.7% during the same period last year. Saturday ADR also reached a record high ($191).

(Data Source: STR)

VISIT PHILADELPHIA^® is our name and our mission. As the region’s official tourism marketing agency, we build Greater Philadelphia’s image, drive visitation and boost the economy.

On Greater Philadelphia’s official visitor website and blog, visitphilly.com and uwishunu.com, visitors can explore things to do, upcoming events, themed itineraries and hotel packages. Compelling photography and videos, interactive maps and detailed visitor information make the sites effective trip-planning tools. Along with Visit Philly social media channels, the online platforms communicate directly with consumers. Travelers can also call and stop into the Independence Visitor Center for additional information and tickets.