After a period of two barren years where no new hotels whatsoever opened in Boston no less than six are scheduled to open in the next two years.
In addition to these properties it is understood that 17 other hotel projects are currently in the pipeline which if given the go ahead could potentially add around 4,000 hotel rooms to the city. The knock on effect of this it is hoped, is that such growth could attract more conventions as well as bring a stop to the steady rise in room rates the city has experienced over the last few years.
One of the only cities in the country where hotels are being built again after the recession, (San Francisco, New York, and Washington being the others) the Boston hotel scene has enjoyed a bit of a boom recently. At present occupancy rates are stabilising around 79%, the highest rate since 2000 which is an encouraging sign for the industry.
‘The market is hovering right around capacity’ said Matthew Arrants of the Pinnacle Advisory Group, a hospitality consulting firm.
‘It’s very hard to get a room during May, September, October. The city sells out regularly during those months’.
An even selection of chain hotels, boutique properties, extended-stay facilities and ‘micro-hotels’ with small, more affordable rooms, most of the hotel projects in the pipeline are planned for the South Boston Waterfront area of the city.