COVID-19's Impact on the Philadelphia Lodging Market | By Kim Conlon – Hospitality Net
Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. During the Great Recession, Philadelphia's occupancy fell three points from approximately 65% in 2008 to 62% in 2009; in 2020, occupancy dropped from the 2019 benchmark of roughly 70% to 44%, reflecting a 26-point correction.
Source: hospitalitynet.org