Pittsburgh has long been known as the hub for coal mining and steel production. Over the last 30 years, it has experienced quite the transformation, no longer just the eighth-largest city in the nation boasting its impressive steel output.
Chicago continues to attract hotel development to the downtown market, thanks to its proximity to global transportation and well-educated workforce. The installation of Chicago’s 60th crane in 2017 suggests that development is still robust.
In recent years, Miami has become a magnet for real estate investments from overseas. We discuss the dynamics of Miami’s evolving role on the world stage of hospitality, including foreign investment driving new hotel construction in the city.
Occupancy in Greater Philadelphia rose above 67% in 2014, and average rates continue to gain ground. The arrival of new supply in Center City next year is expected to have a minimal impact on occupancy, and rate growth should endure in the near term.
Institutions ranging from Olympic centers to major military bases underpin the economy of Colorado Springs. Tourism brings additional demand to area hotels, which have noted improvements in transactions and performance over the past year.
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.
Atlantic City faces many challenges ahead. This article examines the visitation and revenues trends for Atlantic City and summarizes major developments occurring in 2010 and beyond, including the Pennsylvania table games.