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In the past three years, the city of Richmond has seen significant growth in RevPAR, outpacing the regional area and the state of Virginia in the post-pandemic recovery period. This article provides an overview of Richmond’s hotel performance and demand sources.
Richmond was recently rated among the world’s top tourism destinations, and leisure demand remains a pillar of the city’s hotel industry. Corporations, government institutions, and conventions are also driving occupancies and interest in new supply.