Brian F. Bisema
Recent Trends in Vacationland: The Ebb and Flow of the Coastal Maine Lodging Market
Brian Bisema | December 19, 2022
By Brian F. Bisema, Raymond Parejo The primary economic engine of Coastal Maine, also known as Vacationland, is the summer tourist season, which experienced tremendous growth in 2021 and continued strengthening in 2022. Attractions such as Acadia National Park, local beaches, lighthouses, and a host of restaurants, bars, breweries have remained the drivers of leisure travel. Bleisure travel (a combination of business and leisure travel) to the Maine/Greater New England area has also increased substantially over the past 18 months, further bolstering lodging performance. Despite the staggered opening of the U.S.–Canada border, and with C...
Almost Home: The Boston Hotel Market Approaches a Recovery
Erich Baum | December 13, 2022
By Erich Baum, Brian F. Bisema, Raymond Parejo According to STR, Boston’s revenue per available room (RevPAR) finished 2021 at roughly half the pre-pandemic 2019 level, a discouraging performance. But the city took a leap forward in 2022 and is on pace to finish the year with a RevPAR level just a shade below the pre-pandemic performance. After adjusting for inflation, these results are less significant, of course, but the turnaround still represents a huge achievement, particularly considering that the recovery is still in progress for the international travel, corporate transient, and convention demand channels. As illustrated in the ...
