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HVS Market Pulse: Center City Philadelphia

While hotel supply in Philadelphia’s Center City is expected to increase approximately 18% over the next two years, potential for the underserved, midscale, limited-service hotel product still exists.

In Focus: Philadelphia, PA

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.