Philadelphia, PA, Jan. 10, 2012 – While the vast majority of U.S. lodging markets were suffering from declines in revenue during the recent recession, hotels in northeastern Pennsylvania bucked national trends and achieved significant growth in RevPAR each and every year from 2007 through 2011.
During this period, RevPAR for hotels located in the Pennsylvania counties of Bradford, Lycoming, Susquehanna and Tioga has grown at an estimated average annual rate of 14.8 percent. This compares to the 1.7 percent average annual decline in RevPAR experienced by the overall U.S. lodging industry during the same time frame.
“When we present these data, most people think it is a misprint,” said Tony Biddle (top right photo), senior consultant in the Philadelphia office of PKF Consulting USA. “The remarkable RevPAR growth observed in northeastern Pennsylvania is largely attributable to the exploitation of an old resource through the birth of a new industry: natural gas extraction from the Marcellus Shale.”
To learn more about the impact of shale drilling on the lodging industry, please contact Tony Biddle at tony.biddle@pkfc.com or (215) 563-5300, ext 29.
For a complete copy of the company’s news release, please contact:
Tony Biddle Chris Daly
PKF Consulting USA Daly Gray Public Relations
Tel: 215 563 5300, ext 29 Tel: 703 435 6293
Email: tony.biddle@pkfc.com Email: chris@dalygray.com
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