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With Pittsburgh recently announced as the host city for the 2026 NFL Draft, we take a look at the impact of previous drafts on both the host cities and area hotels.
The diverse array of employers throughout the Columbus region has contributed to the growth of the local economy post-pandemic. This economic growth has bolstered the local hospitality market with expectation of continued growth in the near term.
After bottoming out from the effects of the pandemic in April 2020 and facing consistent challenges throughout 2020, Cleveland’s hospitality industry has been steadily recovering throughout 2021 and 2022. A full recovery is expected by 2024, led by strong leisure demand and the return of meeting and group demand.
For 2017, the highest RevPAR growth is anticipated for markets such as Sacramento, Washington D.C., Tucson, Chicago, Salt Lake City, Albuquerque, Houston, and Nashville, per the ALIS presentations.
This past year, Cleveland has gained a major casino, a world-class aquarium, and a state-of-the-art convention center. How does this impact the lodging market?
Cincinnati’s workforce is set to return to pre-recessionary proportions by 2014, making the city’s economic recovery among the fastest in the Midwest. Cincinnati’s hotel industry has realized slower growth, though demand and ADR are trending upward.
Unemployment and office vacancy has been dropping in Columbus, the state capital and a major center for financial and healthcare services in Ohio. Hotel occupancy hit a record high in 2012, and average rates are gaining ground.
A mix of cultural and commercial projects continues to steer businesspeople, tourists, and conventioneers toward Cincinnati, giving area hoteliers some hope in the tough economy.
Unemployment rates are surging, global stock markets are crashing, commodities are collapsing, and the real estate bubble has finally burst. What moves can hotel developers make during the downturn?
Business growth is in league with happenings on the hotel front to help forge new promise for this evolving city.