2021 Marked the Start of Recovery for Philadelphia Hotels in the Wake of COVID-19
PHILADELPHIA – 2021 was a year of recovery for Center City Philadelphia’s hotels, severely impacted by COVID-19 since the pandemic began in March 2020. Today, the City of Philadelphia, in conjunction with VISIT PHILADELPHIA®, the Philadelphia Convention and Visitors Bureau and the Greater Philadelphia Hotel Association, announced increases over 2020 in all hotel metrics: occupancy, average daily rate, RevPAR, supply and demand, and revenue. Hotels are on track to make a full recovery in 2023
“Our hotels and our hospitality industry in general were hit incredibly hard by COVID-19,” said City of Philadelphia Mayor Jim Kenney. “While there is still a ways to go for them to make a full recovery, hotels saw increased business throughout 2021, and that is expected to continue through 2022 and beyond. This renewed hotel activity is critical to our city’s success on so many levels. It means that many people are visiting our city again. It means that people are spending money at our attractions and shops. And it means that people are back to work with good hotel jobs that help them support their families.”
2021 Center City Hotel Highlights:
– Occupancy: 40.8%, a 31.3% increase over 2020’s 31.1% occupancy
– Average Daily Rate (ADR): $181.56, up 16.2% over $156.23 in 2020
– Revenue Per Available Room (RevPAR): $74.06, that’s 52.6% higher than 2020 when RevPAR was just $48.52
– Supply & Demand: 4.88 million room nights in supply (up 30.6% over 2020), 2 million room nights sold (up 71.6% over 1.16 million rooms in 2020)
– Room Revenue: $361 million, up 99.4% from $181 million in 2020
– Market Mix: Of the 2 million rooms consumed, demand was greatest among leisure visitors, who were projected to lead the travel industry’s recovery: leisure (45.2%), business (32.1%) and group (18.8%). Contract business (primarily flight crews and long-term stays) accounted for 3.9% of the mix.
Data Sources: STR, Tourism Economics; all data points are based on the most current information available and may change slightly as new data becomes available.
About the PHLCVB:
The Philadelphia Convention and Visitors Bureau (PHLCVB) creates positive economic impact across the Philadelphia region, driving job growth and promoting the health and vibrancy of our hospitality industry by marketing the destination, the Pennsylvania Convention Center, and attracting overnight visitors. The PHLCVB’s work engages our partners, the local Philadelphia community as well as culturally and ethnically diverse regional, national and international convention, sporting event and tourism customers. The PHLCVB is also the official tourism promotion agency for the city of Philadelphia globally and is responsible for growing the number of overseas leisure visitors who come to the region each year. To learn more, visit www.discoverPHL.com.
About VISIT PHILADELPHIA:
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. 6th & Market Streets, (800) 537-7676.
The Greater Philadelphia Hotel Association (GPHA) is a trade association representing more than 90 hotels throughout the Philadelphia 5-county area. In addition to our hotel members, we also have over 150 Allied Members, a diverse group of companies and related industry partners who do business with hotels. Our hotel members employ over 14,000 residents and have over 30,000 guestrooms.