cambridge
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...
Ready, Set, Go! Boston Lodging Market Eagerly Awaits Another Marathon Weekend
Sebastian J. Colella | April 11, 2019
By Sebastian J. Colella One of Boston's long-standing traditions, the Boston Marathon, will take place the third week of April this year drawing around 30,000 registered runners, both amateur and professional, and over 500,000 spectators made up of vendors, volunteers, staff, and media from all over the world. Hosted by the Boston Athletic Association (B.A.A.), it is the world's oldest annual marathon and takes place every Patriots Day, a State Holiday in Massachusetts. The Boston and Cambridge lodging market thrives during the weekend surrounding the Boston Marathon and this year, the 123rd annual, will be no different. Over time, the ...
Boston’s Lodging Supply Growth Outpaces Demand, Resulting in Lowered Projected Performance
Pinnacle Advisory Group | September 23, 2016
September 23, 2016 While demand year-to-date through August is up a strong 4.1% in the Boston/Cambridge lodging market, it has not been enough to compensate for the growth in supply which has grown 4.7%. Driving the supply growth, the aloft and element hotels opened in the Seaport, the Godfrey Hotel opened in Downtown Crossing, and the Hotel Commonwealth completed its expansion, all of which took place in the Q1 2015, the market's slowest months. On the demand side of the equation, the local lodging market experienced an increase in demand every month of the year, although the pace of demand was somewhat volatile. Specifically, the mont...
