Philly Hotel Occupancy Hit Record Highs in June
June was a very good month for hotels in Philadelphia, as occupancy rates hit record highs. Several special events in the city drove traffic to city hotels, which reaped the benefits of extra bodies in beds. The rates of occupancy were so high that they haven’t been seen in 22 years.
Hotel occupancy rates have been on the rise in Philadelphia.
The Philadelphia Convention and Visitors Bureau reported that conventions of scientists, teachers, and finance officers all drove extra traffic towards hotels. Average occupancy reached 89.4%, a rate not seen in June since 1993. Tuesdays and Wednesdays were especially good days for the hotels, with rates reaching 97.9 percent and 96.4 percent, respectively. High occupancy rates meant higher per-night room rates for the hotels. The average daily hotel rate was $213 in June, with Mondays and Tuesdays seeing the highest average rates – $231 and $232 respectively.
Big conventions saw extra foot traffic in the cities. These conventions included the Government Finance Officers Association, with an estimated attendance of 6,000; the Biotechnology Industry Organization, with an estimated attendance of 15,000; and International Society for Technology in Education, which drew 19,500. These convention attendees, along with visitors to other, smaller conventions, added up to 97,208 nights in hotel rooms, or a full third of the city’s total hotel stays for the month. It’s believed that the conventions ended up generating about $121 million in added revenue for the city.
Both leisure and business tourism have been on noticeable upswings in Philadelphia, thanks to several high-profile events taking place within city limits. The NAACP held its annual meeting in Philadelphia, bringing President Barack Obama to speak at the event. The pope will be coming to town for the World Meeting of Families in September, and the Dalai Lama will be coming in October. With so many special events and visitors bringing more traffic to Philly, it’s expected that hotel occupancy rates will stay high.
