As economic recovery resumes and tourism strengthens, Washington, D.C. remains a
top draw for leisure, convention, and government demand, with area hotels achieving
some of the highest RevPAR levels in the nation. Activity related to Washington, D.C.'s
political machinery continues to benefit the area's economy despite the government
shutdown and sequestration. Unemployment in the MSA remains well below that of
the nation. Visitation levels to D.C. are strong, and visitor spending shot up
during 2013, signs that support an overall positive outlook for local business.
By
Jerod Byrd, Senior Vice President, Partner and Director of Operations of the HVS Philadelphia Consulting and Valuation division,
HVS