Article - HVS Boston Hotel Market Update: Ten Things to Know - By Erich Baum - 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.
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.
Article - HVS Market Report Portsmouth, NH Shakes off Pandemic-Era Rust & Shows Promise for Future - By Erich Baum - 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 markets history, recent performance, and outlook.
According to STR, Boston’s revenue per available room (RevPAR) finished 2021 at roughly half the pre-pandemic 2019 level, a discouraging performance. But the city took a leap forward in 2022 and is on pace to finish the year with a RevPAR level just a shade below the pre-pandemic performance. After adjusting for inflation, these results are less significant, of course, but the turnaround still represents a huge achievement, particularly considering that the recovery is still in progress for the international travel, corporate transient, and convention demand channels. As illustrated in the charts below, the market’s RevPAR returned to its historical position among the top 25 markets, with the year-to-date October 2022 RevPAR equating to 128% of the top 25 markets’ average. Among the top 25 markets in the country, Boston reported the fifth-highest RevPAR level through year-to-date October 2022, behind only New York City, Oahu, Miami, and San Diego, and ahead of San Francisco and L
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