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Market Report

Cincinnati Hospitality Market Report

Midyear 2023

Cincinnati Set to Attract More Events Long-Term;
Occupancy Stays Above the Historical Average

Convention center project could boost occupancy. The slow return of business travel and a steady stream of events, both new and established, have allowed hotel occupancy in Cincinnati to rise from pandemic-era lows. Still, the rate has persistently remained short of the 2019 mark, but that has not stopped hotel revenue from breaking records. In the trailing 12 months ended in June 2023, the metric surpassed $840 million. Although ADR growth will slow from surges seen in the last two years, consistent gains will contribute to sustained revenue increases overall. Plans are also underway in the city to increase overnight stays. One advancing project involves renovating the Duke Energy Convention Center and adding a hotel next to the venue. Planners hope that these additions will create a convention district downtown and draw more events to the venue. Renovation plans for Paycor Stadium have also begun to circulate.
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