Center City Hotel Occupancy Strong in September

Center City hotels had a 78.8% occupancy rate in September, up 12.3% from the same month in 2004. Year-to-date, Center City hotels are up 4.5% over 2004. RevPAR (i.e., "revenue per available room") is up 12.8% this year so far, according to Smith Travel Research. Some of this improved performance is attributable to the conversion of over 1,000 hotel rooms to condos.