News
Boston Hotels' Big Bounce
December 6, 2011
| Plan ahead when booking hotel rooms here for ?12 or ?13—space will be tight. Hotelier Richard Friedman (Carpenter & Co president) expects demand for rooms to take a huge leap. Dick, a 30-year industry vet, will share his insights at Bisnow?s Hotel Summit, Dec. 14 at the Westin Copley Place. Register here! | |
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| The operating side of the hotel business is cranking, Dick tells us, and there's lots o' liquidity for acquisitions. But raising capital for development is tough, although Dick says that's starting to change. The dearth of new construction in recent years means the sector isn't overbuilt, so there's room for new product. Boston's diverse economy generates its own demand. Add to that, the weak dollar attracting foreign tourists and a new Obama Administration ad campaign promoting US travel in foreign markets launched two weeks ago. Dick says it's a winning formula. | |
