cambridge 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...
Boston & Cambridge Lodging Market Peaks in 2018 as Demand Outpaces Supply
Sebastian J. Colella | February 1, 2019
Sebastian J. Colella The Boston and Cambridge lodging market accommodated approximately 7.5 million roomnights in 2018, growth in demand of 3.4% from the prior year. The market's supply increased 2.8% with the opening of four new hotels and a guestroom expansion which combined for approximately 760 new rooms available nightly. As a result of these dynamics, the market's occupancy increased 0.3% to 82.7%, its highest point in history. Despite the market's continued demand growth and capacity constraints through much of the year, average daily rate (ADR) increased only 1.6% to $262. Similar to the trends experienced nationally, the market...
