YORK, Pa. (WHTM) — The Yorktowne Hotel’s room occupancy rate reached about 60% during its first year back in business, a figure an industry analyst says is good for a hotel like the Yorktowne in this market.
The hotel’s general manager, Michael De Julia, speaking in advance of the Jan. 31 anniversary of the hotel’s re-opening, called the first year — with the 60 percent occupancy figure and $4 million in hotel room revenue — “a huge success.”
Figures from STR, which publishes industry benchmarks, show the average occupancy rate in the U.S. for all of 2023 — including long-established hotels and hotels of all categories in all markets — was 63%. The firm forecasts a 63.7% figure for 2024.
“Sixty-percent occupancy is good for a Hilton in a market like York, Pennsylvania, at this point in the recovery,” said Sean O’Neill, senior hospitality editor at Skift, a travel industry intelligence provider.
The Yorktowne is a “Tapestry by Hilton” hotel. The recovery O’Neill referred to is the post-pandemic recovery. Average U.S. hotel occupancy rates dropped to just 43.9% in 2020, according to STR data, and have steadily risen since then, although not back to 2019’s 65.9% level.
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The Yorktowne has collected $2.1 million in food and beverage revenue during its first year, according to figures provided by De Julia.
“The revenues that have been coming through the front door on both food and beverage and our guest rooms are off the charts,” De Julia said. “It’s better than we could ever expect.”
The Yorktowne first opened in 1925 and was for decades a cornerstone of downtown York before falling into disrepair and closing in 2016 for renovations. De Julia said the renovations sought to blend original character with modern amenities. He said pre-renovation guests have returned to stay there, and pre-renovation employees have returned to work there.
Although this part doesn’t flow to the hotel’s bottom line, De Julia said he believes the hotel’s benefits extend outside its doors.
“So when they come here, they get to enjoy the downtown feel. Do we want them to stay here at eat and drink in our place? Absolutely,” he said. “But we also want them to get the feel of downtown York and go experience the restaurants, the shopping — anything they can kind of enjoy and take back to where they’re from.”