boston lodging market
Boston and Cambridge Lodging Market: Navigating Post-Pandemic Realities and Future Prospects
Rachel Roginsky | September 25, 2024
By Rachel Roginsky, ISHC The Boston and Cambridge lodging market, one of the most vibrant and dynamic in the United States, has undergone significant changes in recent years. These changes, spurred by external factors like the COVID-19 pandemic, economic fluctuations, and evolving consumer preferences, have created a complex landscape for hoteliers and investors alike. This article delves into the current status of the Boston/Cambridge market, examines historical data and trends, and offers short term projections for the future. Historical Overview: A Market Shaped by External Forces Pre-Pandemic Growth and Resilience (2015-2019) In the y...
Boston & Cambridge Lodging Strengthens in 2022 With More Upside for 2023
Rachel Roginsky | February 21, 2023
By Rachel Roginsky Despite a slow start in the first Quarter 2022, the Boston & Cambridge lodging market ramped up quickly, and by year-end, the Revenues Per Available Room (RevPAR) reached a 90% index compared to its 2019 (pre-covid) top-line performance. Like many urban gateway cities, the city struggled in its recovery from the negative effects of the pandemic in 2021, as compared to other cities located in warmer climates, which showed strong recoveries one year following the outbreak of Covid in March of 2020. Yet despite the slower recovery, in 2022, leisure demand came roaring back in Boston, while corporate and group travel p...
Boston & Cambridge Lodging Market: Five Things to Know Heading Into Q4
Sebastian Colella | October 3, 2022
By Sebastian J. Colella Until late spring of this year, the Boston & Cambridge lodging market had been one of the country’s slowest to recover. Due to a number of factors, the market experienced very strong results in Q2 and Q3 and looks to continue those trends in the Q4. 1. Uneven Recovery: Much has been reported on the uneven recovery throughout the country’s lodging markets. The recovery across the different submarkets that make up the Boston & Cambridge lodging market has been equally distorted. Through August, the Fenway/Longwood and the Back Bay submarkets, two more leisure-oriented areas, lead the pack in the market’...
Boston & Cambridge Lodging Market Recovery to Gain Momentum in 2022
Sebastian J. Colella | February 24, 2022
By Sebastian J. Colella Despite a slow start to the New Year, the Boston & Cambridge lodging market should pick up speed as spring rounds the corner. Like many urban gateway cities, the market has struggled in its recovery from the negative effects of the pandemic. While leisure demand came roaring back once many of the government mandates and restrictions were lifted in the spring of 2021, corporate and group travel was hampered through much of the year. Furthermore, international travel was subject to federal travel restrictions preventing visitors from some of Boston’s largest feeder markets, specifically Canada and Europe. Despit...
The Boston & Cambridge Lodging Market’s Recovery Projected to Accelerate Into 2022
Sebastian J. Colella | August 4, 2021
By Sebastian J. Colella Despite uncertainties surrounding corporate travel and the return to the office, as well as the Delta variant and the potential for mask mandates and other state or federal restrictions, the Boston & Cambridge lodging market continues to climb a wall of worry. Driven primarily by domestic leisure travel, the market has experienced strong month-over-month gains in demand and average daily rate (ADR) since March. Although the market has experienced considerable gains the last three months it still lags the United States as a whole and almost every other top-25 market in recovering to pre-pandemic levels. Th...
Through August, Greater Boston Lodging Market Ranks as the Hardest Hit by Pandemic
Sebastian Colella | October 6, 2020
By Sebastian J. Colella The Greater Boston market has experienced a 71% decline in room revenue through August when compared to the same time last year, the largest decline of all top-25 markets according to STR. Hotels in Boston and Cambridge, as well as those in the Greater Boston area, began to feel the effects of the ongoing pandemic in early March, before many markets around the country. Declines in lodging demand showed improvement over the summer months as there was an uptick in leisure travel, however, this began to slow towards the second half of August. Despite this slight boost, lodging demand was still down 70% and 62% in July ...
Boston & Cambridge Lodging Market: COVID-19 and Its Impact on Supply
Sebastian Colella | April 6, 2020
Pinnacle has revised projections for 2020 supply change in the Boston & Cambridge lodging market from +3.8% to now -14.4%. By Sebastian J. Colella Life across the United States has changed dramatically in the last four weeks. In Boston, and almost every other city in the country, hotel owners and operators have been forced to make the difficult decision to close temporarily while the country attempts to slow and contain the spread of COVID-19. In Massachusetts those decisions were partially made for them on March 31st. Governor Baker extended his order closing non-essential businesses in Massachusetts through May 4th. This exten...
The Boston Lodging Market: What the Supply Surge Means Moving Forward
Sebastian Colella | August 19, 2019
At year-end 2018, the Boston and Cambridge lodging market was comprised of 105 hotels with approximately 24,000 rooms. While this has grown considerably in four years, lodging supply in this market remains small relative to other major gateway cities. The ongoing building boom in Boston and Cambridge has contributed greatly to the recent surge in lodging supply and is expected to continue through 2021 and beyond. What does the pipeline of hotel development, its largest in recent history, mean for the Boston lodging market’s performance? Recent & Continued Supply Growth Between 2000 and 2014, rooms supply in market increased at ...
