Unemployment in Philadelphia remains high, though the city’s broad economic base continues to slowly recover. RevPAR levels for Philadelphia hotels are expected to strengthen in the near term, with demand outpacing recent supply additions.
The recent recession cut into Wilmington’s hotel market as demand from financial institutions and other firms weakened; however, new projects, rising room rates, and a strengthening economy in the city and MSA are putting RevPAR on the mend.
Downsizing, travel freezes, and facility closings have made the climate bleak for hotels in northern Delaware, but a slowdown in the introduction of new supply should help shore up penetration levels when business activity and demand growth resume.
ago 28, 2009 Por Jerod S. Byrd
A sluggish national economy hasn’t held back growth in Center City Philadelphia, where expansions of business, tourism, and the convention center bring on a need for new hotels.
ene 23, 2009 Por Jerod S. Byrd
Increased government activity triggers demand for additional hotel rooms in the Baltimore-Washington International Airport market.
oct 21, 2007 Por Jerod S. Byrd