pinnacle advisory group
The Impact of Natural Disasters on Hotel Occupancy in Florida
Allison Fogarty | October 1, 2024
By Allison Fogarty For years, I’ve analyzed sharp fluctuations in hotel occupancy levels across several Florida markets, and one recurring explanation has been “disaster recovery.” In regions prone to hurricanes, fires, and floods, disaster recovery can significantly boost demand for hotels, even as some properties suffer damage or destruction. In the aftermath of Hurricane Helene, it's a timely reminder for lodging developers and analysts that the hospitality industry often experiences contrasting outcomes: while some hotels are devastated, others see a surge in demand. The Aftermath of Hurricane Helene Hurricane Helene touched grou...
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...
College & University Hotel Ownership Symposium – Key Takeaways
Rachel Roginsky | March 28, 2024
By Rachel Roginsky The College & University Hotel Ownership Symposium (CUHOS) convened at Harvard University in early March. The focus of the symposium was to allow college and university employees charged with the planning and administration of their institution’s hotels an opportunity to attend seminars and discussions important to the development and oversight of hotel assets. The biennial event, hosted by Pinnacle Advisory Group at a college or university partner, featured data analysis, perspectives, and insights from expert hotel industry partners with on-campus hotel experience. Previous CUHOS symposia have been hosted by Pinn...
Boston/Cambridge Lodging Market – 2023 Year End Review
Rachel Roginsky | January 31, 2024
By Rachel Roginsky The Boston/Cambridge lodging market ended 2023 at 76.4% occupancy, a 6.8% variance over 2022’s 69.6%. This 6-point increase in occupancy is a result of the market accommodating 8.6% more rooms in 2023 compared to the prior year; 0.6% more rooms occupied as compared to 2019. Seasonality appears to be in sync with what we typically expect for the Boston market. Peak season, May through October, monthly occupancies ranged between 84% and 89%, averaging 86%. The three-month shoulder season, March, April and November, market occupancy averaged 75%. December through February, our slow season, market occupancy averaged 58% in...
Boston/Cambridge Lodging Market – Outlook Is for Positive Growth for 2024
Rachel J. Roginsky | November 15, 2023
By Rachel Roginsky After spending the last 32 years tracking and analyzing the Boston/Cambridge (“the City”) lodging market, Pinnacle Advisory Group (“Pinnacle”) is quite comfortable forecasting top line (occupancy and ADR) revenue for the City. But projecting the future with precision can be complicated. Here’s our perspective on the City’s lodging market for 2024: • Convention and Group Demand – This segment of demand comprises approximately 23% of total demand in the City. According to Signature Boston, the Boston Convention and Exhibition Center will generate approximately 500,000 room nights in 2024, which will be a...
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...
