PHILADELPHIA The Philadelphia Convention and Visitors Bureau has launched a campaign called “Bring Home One in 2001” in an effort to persuade regional CEOs to hold their sales, training and shareholder meetings here instead of leaving town and filling hotel rooms in other cities. The campaign, aimed at 165 area corporations that have at least 500 employees, is one of several ways the CVB is trying to cushion the anticipated drop in 2001 hotel sales. While the number of hotel rooms here has grown, there will be five fewer conventions with 2,000 or more attendees this year than last.
Analysts have predicted that Center City occupancy rates will hover this year at about 61%, or about four percentage points below what most analysts consider the break-even number. If the CVB s campaign succeeds, the payoff can be an additional $10 million to $15 million in direct economic impact on the city. (2/2/01)
SOURCE:The Philadelphia Inquirer