The Boston lodging market continues to progress, steadily closing the gap on pre-pandemic RevPAR levels (inflation adjusted). With the new-construction pipeline empty and a record year anticipated in the convention sector, the market’s future is among the brightest in the nation.
The 2024 edition of the Caribbean Hotel Investment Conference & Operations Summit (CHICOS) brought over 300 attendees to the Wyndham Grand Barbados Sam Lord’s Castle All Inclusive Resort for several days of networking and industry insights from key stakeholders in the region. This article provides the major takeaways from this year’s conference.
Boston is back. The three key demand channels have returned to an approximation of their pre-pandemic levels (conventions and business travel up, leisure down), and the city’s RevPAR has improved to third in the nation, supplanting Miami and various West Coast rivals. Here are ten things to know about the city.
While the onset of COVID-19 had devastating effects for the Connecticut tourism industry, a recovery quickly began. By 2022, occupancy levels were only slightly below those of 2019, and ADR levels far surpassed those of 2019. The upcoming renovation of the XL Center in Hartford and the state’s “Find Your Vibe” campaign are key indicators of Connecticut’s recovery and success.
Why do some stadiums attract more tourists and economic impact than others? It does not have to do with the quality of a city’s music scene or attractiveness, but the availability and cost of tickets. Tickets to venues in densely populated areas with higher incomes are harder to get, so instead people travel to venues with tickets that are available, and cheaper.
In 2022 and the first half of 2023, San Diego hotels experienced unprecedented RevPAR growth, similar to much of California, as markets recovered from the impact of the COVID-19 pandemic. As a result, hotel development and transactions have been strong. However, construction of full-service hotels remains challenging amid a steep rise in development costs.
The destination market of Newport, Rhode Island, has recovered more quickly from the COVID-19 pandemic than many other cities in the Northeast. This article highlights the market’s recent performance and outlook.
Situated midway between Boston and Portland, picturesque Portsmouth features a waterfront downtown with a growing hotel market. This article serves as a primer on the market’s history, recent performance, and outlook.
Since the onset of the COVID-19 pandemic, the Coastal Maine market, including Portland, has experienced a renaissance of leisure travel. This seasonal drive-to market has remained a stalwart of the New England region, while corporate and group-focused urban cores have been slower to rebound. Pent-up demand has catapulted Coastal Maine markets beyond pre-COVID peaks. This article highlights the market’s triumphs and challenges in recent years.
Boston’s hotel market came up strong in 2022, exceeding expectations. Despite anticipated recessionary impacts in 2023, a full recovery is on the horizon for this market.