Hotels in downtown Milwaukee and throughout the metro Milwaukee area cashed in on the
2024 Republican National Convention, seeing triple-digit increases in room rates and revenue per room.
According to a report from
CoStar, a provider of real estate data, occupancy for hotels in downtown Milwaukee for the week of the RNC was 86.4%, compared to 67.5% the same week last year. Similarly, hotel occupancy for Milwaukee, Ozaukee, Washington, Waukesha and Racine counties was 83.4% during the week, compared to 70% for the same week last year.
On a day-by-day basis, hotels in downtown Milwaukee were at 96% occupancy and above Monday through Thursday nights (the days of the convention) before falling to 46% on Friday night.
"That occupancy is going to be hard to repeat," said
Greg Hanis, hotel industry analyst and president of New Berlin-based
Hospitality Marketers International Inc. "It definitely shows the impact the RNC had on Milwaukee."
As for room rates, downtown Milwaukee saw a nearly 200% increase in average daily room rates last week compared to the year before, with hotel rooms going for an average of $510 per night. In the metro Milwaukee area hotel rooms went for an average of $350 per night during the week. Typically, room rates in July would be closer to $200 a night.
"Repeating these room rates will be pretty much impossible," Hanis said.
"The numbers speak for themselves," said
Peggy Williams-Smith, president and CEO of
Visit Milwaukee in a statement. "The event delivered a 192% increase in revenue compared to the same week last year for (Milwaukee) County's hotels. This data represents the first of many proof points that this event delivered a significant impact for Milwaukee."
The RNC Host Committee said last year that it would be booking between 300 and 400 hotel properties within 60 miles of downtown Milwaukee for the RNC's estimated 50,000 attendees.
"At the Pfister, Saint Kate and Hilton, our guest rooms were sold out at healthy rates for the week," said
Michael Evans, president of
Marcus Hotels & Resorts. "On the (food and beverage) side, we did not have as many meetings or events as anticipated, and restaurants and bars at hotels subject to security restrictions were softer than expected."
Republican presidential nominee Donald Trump was among the high-profile guests staying at The Pfister Hotel in downtown Milwaukee's East Town neighborhood during the RNC.
"A lot went into our preparations for the week – procurement, training, staffing, renovations and security, just to name a few," Evans said. "Our associates did a magnificent job working around the clock, and from the big moments to the little details they truly made our guests’ stays extraordinary."
Across the river in Westown, the Hampton Inn & Suites, which
emerged from foreclosure under new ownership earlier this year, hosted the Wisconsin GOP delegation.
"We got a lot of compliments and worked a ton more hours," general manager
Donovan Milam said "We could have used a couple of extra staff, but that's kind of an issue everywhere. It's good to be so busy this soon after reopening."
Hanis said the RNC's impact on hotels could be seen as a shot in the arm as reports show that Milwaukee's hotels still haven't fully recovered from the COVID-19 pandemic's impact on the hospitality industry.
Revenue per available room (RevPAR) was up for downtown hotels by 230% during the week of the RNC to $440, according to CoStar. For the surrounding Milwaukee area, RevPAR was up 178% during the week.
"As an observer, the RNC painted Milwaukee in a very good light and that probably put it on the several maps for meeting planners, which could have a good downstream effect for hotels if it materializes," Hanis said.
