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.
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,… Read the full story here. |