Hotels in Boston are hopping and the city has been pushed to capacity.
A recent article in the Boston Globe reports that “Hotels in Boston are already stretched to capacity in October, with convention-goers, leaf peepers and Head of the Charles fans out in full force. Add the World Series, and you have a sold-out market, extending to the suburbs and beyond. This has sent room rates soaring, with prices as high as $1,000 a night on Expedia and travelers scrambling to find a place to stay.”
JLL’s Eamon O’Marah of our Project and Development Services group, says that even with all the hotel development underway there is still a need for more. “Boston is fundamentally a very strong hotel market. It can absorb many more hotel rooms due to the demand. The city’s dynamic mix of amenities suits an urban select serve hotel product well.”
JLL is helping to deliver that product with several hotel development advisory projects underway. Eamon is currently working on the development of 915 new hotel rooms in four projects. This includes a 225-room hotel on Parcel 9 and two new hotels at the Boston Convention and Exhibition Center. The Convention Center hotels, Aloft and Element, will add 510 much needed rooms for convention goers and other visitors to Boston. The Convention Center currently has 1,780 hotel rooms. Similarly-sized convention centers in other major markets have 6,000+ rooms by comparison.