PHILADELPHIA
Philadelphia's hospitality industry is reportedly having a blockbuster summer thanks to the Democratic National Convention, two major sporting events and eight citywide conventions, which combined will generate close to $500 million in economic impact for the city. Area hotels and businesses have already seen substantial summer activity thanks to the incredibly strong summer convention calendar.
For the duration of the DNC (Monday, July 25 - Thursday, July 28) hotel occupancy topped out at 97.6 percent—a 10.3 percent increase over the same period last year and as a result, hotel RevPar (Revenue Per Available Hotel Room) is now 6.6 percent ahead of what it was at this time last year.
The additional hotel demand for the week of the DNC resulted in a $16.3 million increase in Center City hotel room revenue over the same period in 2015 for a total of $22.9 million.
"This will be an incredibly successful summer for our entire hospitality industry thanks to the phenomenal impact of the DNC, along with the large citywide conventions and sporting events we bring to Philadelphia plus the contributions of the city's cultural attractions which helped to draw even more event attendees," said Julie Coker Graham, Philadelphia CVB (PHLCVB) president & CEO.
In addition to the DNC and citywide conventions, the 2016 Copa America Centenario helped fill the city with visitors in June and pumped $41 million into the local economy.
Furthermore, the Pennsylvania Convention Center, which served as the venue for DNC caucus meetings and daily press briefings, has been operating at high capacity hosting the Drug Information Association ($21.7 million in economic impact), followed by the AME Church Bicentennial ($21.2 million), the American Podiatric Medical Association ($7.8 million in economic impact) and the AVID Summer Institute ($8.2 million) which led straight into the DNC. On the heels of the DNC, AACC ($39.8 million) moved into the facility bringing 20,000 attendees, its highest attended show in the past four years and the second highest attendance for any convention in Philadelphia this year behind the DNC.
"This is a banner summer for the Pennsylvania Convention Center as we have welcomed citywide and national events to Philadelphia," said Gregory J. Fox, chairman of the Pennsylvania Convention Center Authority. "We teamed with our partners to showcase American political history, chemical and medical advances, and the bicentennial of a historic African American church founded here.”
The other major conventions rounding out the summer calendar are the American Chemical Society, American Political Science Association, ACN Inc. and the Society of Cable Telecommunications Engineers.
