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After some initial trepidation regarding cancellations and a slightly disappointing amount of ahead-of-time reservations, last-minute bookings have made the DNC a huge boon for Philadelphia hotels.
On Monday, Philly hotels were at 96% occupancy, but they were at 99% from Tuesday through today. Vacation property rental rates are also "skyrocketing," though average daily rates for hotels are slightly below projections, Greater Philadelphia Hotel Association executive Ed Grose told the Philadelphia Business Journal.
The discrepancy is due to late flux, with cancellations giving way to last-minute reservations, Grose says, but he insisted "[Hotels] are full. Overall, this is great for Philadelphia." [PBJ]
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