MeetBoston’s Quarterly – Boston Cambridge Lodging Market, presented by Rachel Roginsky, ISHC
Rachel Roginsky, ISHC presented at the Quarterly Meet Boston event on October 31, 2023. She outlined the continued strength of the Boston and Cambridge lodging market. Key takeaways were that as of September 2023, accommodated demand in the City’s hotels surpassed accommodated demand from 2019 by 1%, and is 10% over accommodated demand in 2022 for the first 9 months of the year. She also touched on the fact that rate growth is still positive, but that the rate of growth has been decelerating each month. Rachel updated our forecast for Boston year end 2023, although the updates were relatively immaterial. By the end of 2023, the Boston lodging market will reach 76% occupancy at an ADR of $289.
To view the presentation slides, please clink below: