July 14, 2020
For 2019, Pinnacle Advisory Group estimated that Boston and Cambridge hotels generated nearly $2 billion in rooms revenue, based on a total supply of nearly 25,700 rooms, an average occupancy of 81.4 percent and an average daily rate (ADR) of $259. Over 13,300 people are employed in the hotel industry sector in Boston and Cambridge. […]
May 19, 2020
The coronavirus pandemic’s impact on travel is thought to be six or seven times greater than the 9/11 attacks, according to the U.S. Travel Association. Air travel volume fell precipitously through March. The estimated revenue losses by air carriers in 2020 is at least $252 billion. In late March, domestic carriers received a $60 billion […]
May 15, 2020
Hotels throughout New England are normally preparing for their peak season this time of year. Unfortunately, 2020 has been anything but normal. The impact of COVID-19 and the changes to normal day-to-day life have had severe impacts on lodging markets across the country. Many hotels throughout New England have temporarily closed and those that are […]
April 29, 2020
Politicians and industry leaders are struggling with when to allow hotels to open. Even when policy changes, just because hotels can reopen does not mean they should. When the pandemic hit U.S. shores, owners and operators were immediately concerned with the health and safety of their employees and guests. As occupancy levels plummeted, owners and […]
April 22, 2020
For 2019, Pinnacle Advisory Group estimated that Boston and Cambridge hotels generated nearly $2 billion in rooms revenue, based on a total supply of nearly 25,700 rooms, an average occupancy of 81.4 percent and an average daily rate (ADR) of $259. Over 13,300 people are employed in the hotel industry sector in Boston and Cambridge. […]
April 15, 2020
Though the arc of people with confirmed cases of Covid-19 is going up as more individuals are tested, the curve of the average daily death toll appears to have flattened. Which indicates that the act of social distancing will keep our ICU capacity from being overwhelmed as it was in Hunan and Italy. We can […]
April 7, 2020
Pinnacle has revised projections for 2020 supply change in the Boston & Cambridge lodging market from +3.8% to now -14.4%. Life across the United States has changed dramatically in the last four weeks. In Boston, and almost every other city in the country, hotel owners and operators have been forced to make the difficult decision […]
March 24, 2020
As travel across the country and the world has all but stopped the last few weeks from the threat of COVID19, hotels across the country saw an unprecedented amount of cancellations. The Boston lodging market has been one the hardest hit markets in the United States with demand declining dramatically throughout most of March. Going […]
January 13, 2020
The relationship between hotels (particularly major international brands) and Online Travel Agencies (OTAs) may sometimes seem an uneasy alliance. Major hotel companies, such as Hilton, Marriott and IHG, are adding policies on price match guarantees to encourage direct bookings and detract from the perceived value of OTAs. Meanwhile, OTAs push even harder for competitive pricing […]
July 21, 2019
At year-end 2018, the Boston and Cambridge lodging market was comprised of 105 hotels with approximately 24,000 rooms. While this has grown considerably in four years, lodging supply in this market remains small relative to other major gateway cities. The ongoing building boom in Boston and Cambridge has contributed greatly to the recent surge in […]
