News
Envoy's Enviable Hotel Market
August 21, 2014
In a year, Norwich Partners expects to open the 136-key Envoy Hotel at the gateway to the Seaport District. As one of five hotel projects with 1.4M SF under construction (18 projects with 3.1M SF have been approved), it will be very welcome by the City of Boston, which just released a report that calls for more hotels to support economic growth. With the occupancy rate at a historic high—80.3%—and RevPAR at $179.75 a night, it's a tight market that warrants new construction.
