cleveland hotel market
The Cleveland Market Is on Pace for Full Recovery
Brandon Leversee | January 4, 2023
By Brandon Leversee The recovery of Cleveland’s travel and tourism industry is well underway following the severe downturn in 2020. According to Destination Cleveland, business and leisure travelers to Cuyahoga County in 2021 increased by 17% from the levels recorded in 2020. This increased visitation resulted in a total economic impact of $9.3 billion. Industry officials predict that Cleveland and Cuyahoga County will fully recover by 2024, despite rising inflation and continued staffing shortages, as well as the possibility of a national recession in 2023. Cuyahoga County Market—Recovery to 2019 Performance Source: Destination...
NFL Draft Lifted Downtown Cleveland Hotel Performance to 532-Day High
STR | May 6, 2021
HENDERSONVILLE, Tennessee — May 6, 2021 — The NFL Draft boosted daily hotel performance to a 532-day high for hotels in the downtown Cleveland area, according to data and analysis from STR. Focusing specifically on 26 hotels in the four zip codes that comprise the immediate downtown area and nearby University Circle, the high point of the week was the opening night of the draft with average occupancy at 85.0%, average daily rate (ADR) at US$244.58 and revenue per available room (RevPAR) of US$207.94. That 29 April RevPAR level was more than 14 times higher than the comparable Thursday in 2020 and more than double the comparable Thursda...
