High Point Furniture Market spurs economic boom for hospitality industry

The recent High Point Furniture Market did not only draw furniture lovers and industry professionals from far and wide, but also brought a significant economic windfall to the hospitality sector in High Point. Hotels and rental homes, in particular, experienced a surge in occupancy rates and revenue, thanks to the influx of visitors who attended the semi-annual event.

Adrianna Carter, General Manager with Brandt Hospitality Group, attested to the substantial impact of the Furniture Market on local hotels. With a decade of experience in the industry, Carter noted that hotels across the city experienced a remarkable increase in bookings during the week of the Market. “The demand for accommodation during the High Point Furniture Market is unparalleled," Carter states. "We've seen a surge in reservations, with many hotels reaching full capacity."

Data from Visit High Point validated Carter's observations, revealing that hotel occupancy rates during the market week surged by an impressive 30% compared to the same period last month. This spike in demand for accommodations showcases the crucial role that the furniture market plays in driving tourism and economic activity in High Point.

Nathan Sprinkle, in charge of communications for the High Point Furniture Market, echoed Carter's sentiments. Sprinkle highlighted the relationship between the Market and the hospitality industry, emphasizing how the event drove economic activity throughout the city. "The High Point Furniture Market isn't just about showcasing the latest trends in furniture; it's about bolstering the local economy," Sprinkle asserts. "Hotels played a crucial role in accommodating the thousands of attendees who made their way to High Point for this event."

The impact of the Furniture Market extended beyond traditional hotel accommodations, as evidenced by Herminia Camacho, an Airbnb host in the Triad region. Camacho shared her experience of surges in guest bookings during the Market week, and said that alternative lodging options also benefited from the increased foot traffic. "As an Airbnb host, I saw a noticeable uptick in inquiries and reservations during the High Point Furniture Market," Camacho remarks. "I think the event helped out the local hospitality sector as a whole."

Data from Airbnb's platform reveals a significant uptick in bookings in High Point and its surrounding areas during the market week, with a 40% increase in the number of guests compared to the previous month. The increase in demand for accommodations such as Airbnb highlight the wide range of options and choices made by attendees of the market.

Beyond accommodation, the increase of visitors for the High Point Furniture Market translates into increased spending on dining, entertainment, and retail, further boosting the local economy. Restaurants and eateries reported a surge in business, with some establishments extending their operating hours to accommodate the influx of patrons, such as the Dive Bar, which opened extra days to serve guests. 

The economic impact of the furniture market reverberates throughout the city, with small businesses, transportation services like Uber, and other local vendors all benefiting from the bustling atmosphere here in High Point. The mix of revenue generated during the week of the furniture market provides a nice boost to High Point's economy, supporting jobs and housing a place for growth in the hospitality and related sectors.

In addition to the immediate economic gains, the success of the High Point Furniture Market reinforces the city's reputation as a premier destination for industry professionals and design enthusiasts alike. The event's ability to attract a diverse audience from across the country and around the globe emphasizes High Point's status as the world’s premier furniture destination. 

Looking ahead, those in the hospitality sector are optimistic about the continued growth and success brought about by the High Point Furniture Market. As the city gears up for future furniture markets, hoteliers, Airbnb hosts, and local businesses are bound to capitalize on the opportunities presented by this large event, further solidifying High Point's growing position as a vibrant hub of commerce and culture.

The significance of the Furniture Market's economic impact on High Point cannot be overstated. Beyond generating revenue for hotels and businesses, the event showcased the city as a premier destination for the furniture industry, further enhancing its reputation on a global scale. 

As the city of High Point reflects on the recent rush of activity brought about by the Furniture Market, it becomes evident that the event not only serves as a platform for showcasing innovation and creativity in furniture design, but also as a catalyst for economic growth and success for the entire community. With the city's hospitality sector thriving during Market week, stakeholders eagerly anticipate the continued success and impact of this iconic event for years to come.