Hotels win big during record-breaking Easter Weekend
As a result of two big events in Philadelphia last weekend – the NCAA Men's Basketball East Regional and the ASICS Northeast Qualifier Volleyball tournament, Center City hotels experienced record-breaking occupancy over Easter Weekend, topping out at 95 percent.
Combined, the two events brought more than 30,000 visitors to Philadelphia who consumed an estimated 23,000 hotel room nights, resulting in a $40 million economic impact for the region, according to the Philadelphia Convention & Visitors Bureau (PHLCVB).
Center City hotels saw a 10 percent increase in occupancy over 2015 and the Average Daily Rate (ADR) was also the highest on record at $176. Not only was there a major increase in group-related demand but in addition, thousands of leisure travelers also visited to support their teams.
The additional demand and increased rate resulted in a 30 percent growth in hotel room revenue over 2015 ($3.8 million in 2016 vs $2.9 million in 2015), with areas surrounding Center City also benefitting from the two events. The airport and stadium hotels increased their occupancy by 20 percent and hotel room revenue by 49 percent over last year.
Before the NEQ Volleyball tournament came to Philadelphia in 2013, hotel demand over Easter weekend was soft, with average occupancy below 65 percent from 2007 - 2012. The NEQ Volleyball tournament had an immediate impact on hotels, with occupancy jumping into the high 80s and low 90s between 2013-2016.
“Events like the NCAA Men's Basketball East Regional and NEQ Volleyball tournament have an impact on not just our hotels but our restaurants, attractions, taxis and more. The combination of a flexible, state-of-the-art Convention Center located in the heart of the city and strong partnerships with our sports teams, universities and venues, have enabled us to be a competitive destination when it comes to attracting these events, which in turn generate a solid economic impact for Philadelphia,” said Julie Coker Graham, PHLCVB president and CEO.
Source for statistics: STR, Inc, TravelClick.
Philadelphia Convention & Visitors Bureau (PHLCVB), www.discoverPHL.com , a private non-profit membership corporation, is the official Tourism Promotion Agency for the City of Philadelphia globally, and the primary sales and marketing agency for the expanded Pennsylvania Convention Center. The PHLCVB competes with its counterparts worldwide for convention and tourism business. The organization has departments dedicated to the multicultural, sports, and life sciences markets.