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September 8, 2022

Tourism Brought Boston's Hotel Market Back To Life This Summer, But Business Travel Still Lags

Simon Property Group And New England Development Discuss Upgrading Retail & Malls Oct. 20

Boston’s hotel industry saw major improvements this summer as leisure travel surpassed pre-pandemic levels, boosting demand across the region. 

Hotel managers and researchers told Bisnow that although they expect fall and winter will be better than last year, they are worried about the impact of slow corporate travel once tourism season ends. 

Tourism Brought Boston's Hotel Market Back To Life This Summer, But Business Travel Still Lags

In July, Cambridge and Boston had an average revenue per available room of $183, a 93% increase from the same month last year, according to Pinnacle Advisory Group’s 2023 Outlook report. At the end of August, Boston had the highest weekday occupancy among the top 25 U.S. markets,…

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Famous Cambridge Club Planned To Be Demolished, Replaced With 6-Story Hotel

Famous Cambridge Club Planned To Be Demolished, Replaced With 6-Story Hotel

Popular music venue The Middle East in Cambridge may be forced to shut down soon after plans were filed to demolish the building for a new development. Sater Realty LLC, the entity managed by building owner the Sater family, is planning a six-story hotel to take the venue's place, according to…

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SURVEY: Understanding The LGBTQIA+ Community In Commercial Real Estate

SURVEY: Understanding The LGBTQIA+ Community In Commercial Real Estate

There is little to no data available about sexual orientation in the commercial real estate industry. Bisnow, in consultation with LGREG, the Lesbian and Gay Real Estate Group, is seeking to remedy that, launching a survey that aims to shed light on who makes up the LGBTQIA+ community in commercial real estate, a notoriously…

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The Heat Is Off? Recession-Related Valuation Drops Could Douse Overheated Markets

 

With a likely recession on the horizon, property owners across the U.S. are preparing for the drop in property values that tends to accompany economic downturns, but some property types can anticipate a harder hit than others.

Property types responded differently to pandemic-era market shifts, causing some to shoot up in value at a supercharged pace while others languished. But now, faced with a recession, the playing field could be leveled.

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