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May 16, 2024

Investors Want To Buy Into Boston's Improving Hotel Market, But Deals Are Still Scarce

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As the weather warms, Boston is drawing not only flocks of tourists but also a host of hotel investors. 

Boston was ranked the fifth-most-attractive hotel investment market in the nation for 2024, behind New York City, Miami, San Francisco and Charleston, South Carolina, according to CBRE's Global Hotel Investor Intentions Survey. However, high interest rates and a lack of supply have held the city's investment sales market from reaching its potential. 

Hotel researchers and brokers tell Bisnow that although the macroeconomic environment is slowing sales and construction for now, it may benefit Boston's competitiveness in the long term.

Investors Want To Buy Into Boston's Improving Hotel Market, But Deals Are Still Scarce

"At the end of the day, Boston remains a very, very strong market," JLL Managing Director Alan Suzuki said. "There's a really healthy long-term prospect in the market, with a lack of supply and diverse demand generators and further recovery." Beantown…

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Lawmakers Propose Allowing 6-Story Multifamily Buildings Anywhere In Cambridge

Cambridge City Council members are trying to tackle the city's housing shortage through a new ambitious zoning measure. 

Lawmakers Propose Allowing 6-Story Multifamily Buildings Anywhere In Cambridge

City Council Members Burhan Azeem and Sumbul Siddiqui have proposed allowing six-story apartment buildings to be constructed by right anywhere in Cambridge, The Boston Globe reported Wednesday. The plan, first reported by GBH, would make Cambridge the first city in Massachusetts to eliminate single-family-only zoning. It…

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Inflation Ticks Down, Keeping Hope Alive For 2024 Rate Cuts

Inflation cooled slightly last month, signaling that while previously anticipated cuts to interest rates in the first half of the year are unlikely, there is still hope for decreases this fall.

Inflation Ticks Down, Keeping Hope Alive For 2024 Rate Cuts

The consumer price index rose 3.4% year-over-year in April, according to the Bureau of Labor Statistics’ Wednesday report, down from a 3.5% increase in March. Month-over-month price increases also ticked down, rising 0.3% in April, a slight reduction from 0.4% in March. The Federal…

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RTO Boosts Business Travel, Puts A Dent In Domestic Leisure Traffic As Hotel Demand 'Normalizes'

RTO Boosts Business Travel, Puts A Dent In Domestic Leisure Traffic As Hotel Demand 'Normalizes'  

Business travel is back big, but as Americans trickle back to the office, that gain has brought some pain on the leisure side, according to executives at some of the nation's largest hotel chains and hospitality REITs.

Across the board, hospitality executives projected confidence in the strength of business and group travel demand to investors during their latest round of quarterly earnings calls. But they were less certain about leisure trends, characterizing the first quarter as a return to normalcy after travelers flocked to resorts and urban centers in the wake of pandemic restrictions lifting worldwide.

Leisure demand was roughly flat or down year-over-year for a majority of hospitality companies in the quarter, a slowdown largely attributed to poor weather, the Easter holiday falling earlier in the year than usual and greater numbers of workers doing business at the office rather than at home or on the…

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