High demand for hotel rooms in the Boston Metro is prompting a spate of new development, according to a recent article in the Patriot-Ledger. About 1,445 new hotel rooms will be opening during 2018, marking a 5.6% increase over the prior year.
Consistent occupancy, and strong revenue per available room, make the Boston Metro one of the nation’s best markets for hotel developers. Boston’s urban center has seen a plethora of hotel development in recent years, but it has not slowed room demand.
Early projections for 2019 show another 1,322 rooms coming to market, with new hotel developments underway in Quincy, Randolph, Natick and Woburn. New hotels have been opening at a brisk pace throughout eastern Massachusetts, with cities such as Worcester, Waltham, Marlborough and Somerville being part of the recent growth.
The Boston Metro’s robust economy and diversity of industry makes it a top destination for business travelers. Our wealth of history, culture, and our institutions of higher learning attract visitors from around the globe. With room demand rising even as new hotels are completed, the hospitality industry has room to run.
When you are ready to begin, relocate or expand your business, team up with the Jay Nuss Realty Group, LLC! Whether you are thinking of buying or leasing Boston Metro commercial real estate, we can help you find the ideal property.
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