Chester County outdid itself in hotel performance for 2018, with all three key hospitality performance metrics increasing from 2017, writes Kenneth Hilario for the Philadelphia Business Journal.
Occupancy, average daily rate, and revenue per available room in local hotels reached new heights, according to data from analytics firm STR. This gave hoteliers the flexibility to increase their prices and boost their bottom line.
In Chester County, occupancy increased from 61.8 percent in 2017 to 63.9 percent last year. This helped increase the revenue per available room from $75.27 to $78.98 and boosted the average daily rate from $121.71 to $123.54.
Last year was not only good for Chester County but for all five counties in the region. They all reported year-over-year increases in overall hotel performance.
The largest growth in the region was recorded in Delaware County, where demand grew nearly 11 percent compared to the previous year, with occupancy increasing by 3.9 percent.
Read more about hotel performance for 2018 in the Philadelphia Business Journal here.