Colliers International Boston | Research Matters

BOSTON'S HOTEL MARKETS

  • The city of Boston has made a great effort since 2000 to increase its supply of hotel rooms in order to serve the more than 12 million visitors annually, including tourists, convention attendees and business travelers.
  • While 38% of Boston’s existing hotel rooms are located in the Back Bay, other submarkets within the city are currently capturing a greater share of new and future hotel development.
  • Of the 5,000 hotel rooms currently in the construction pipeline, 35% are proposed in the Financial District, 20% are in the Seaport, and 14% are in North Station.
  • The Colliers Boston Development & Consulting Services group has contributed to the successes of several recently completed hotels including the 136-room Envoy Hotel in the Seaport and the 242-room Godfrey Hotel in Downtown Crossing – which sold in December 2015 for $173.9 million or $718,595/key.
  • Though not expected to surpass the preceding decade in volume, the city of Boston expects to add an appreciable number of hotel rooms to the market by this decade’s end.

Boston's Hotel Rooms Delivered by Decade