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Topic - Market Report Philadelphia

Market Report Philadelphia
Proposed 76 Place Arena Rendering, Center City Philadelphia

HVS Market Report - Philadelphia Hotel Market: Poised for Success - By Michael Lambdin and Scott Killheffer

Since the COVID-19 pandemic, Philadelphia's ADR has fully recovered, but occupancy and RevPAR remain below 2019 levels. The primary factor limiting the recovery is the stagnant commercial and group demand segments. However, leisure demand has increased, and the city is preparing to host several large events in the coming years, supporting a positive outlook.

Market Report Philadelphia
A photo from the Rocky Steps at the Philadelphia Museum of Art of City Hall - Unsplash

HVS Market Report - Philadelphia, Pennsylvania

Philadelphia hotels experienced unprecedented declines in demand during the COVID-19 pandemic, similar to most top-25 markets in the United States. Considering the city’s large number of demand generators, Philadelphia hotels are well positioned for a recovery, albeit a slow one. How far did the Philadelphia hotel market fall? What factors will shape this recovery?