The recent hotel story in Center City Philadelphia is strong with average Saturday night occupancy at 88.2 percent and leisure room nights are up 273 percent since 1996. In June 2015 we saw a record-breaking occupancy across CBD. The seven hotel projects under construction will expand the CBD inventory by 1,800 rooms (about 16 percent) within the next 24 to 30 months. The performance of these deliveries will influence 1,500 additional keys currently in the proposal stage.
This poses the question: will the growing leisure market, increasing frequent conventions and downtown office growth suffice to sustain a more diverse and sophisticated hotel landscape?