HOTELS IN BOSTON | BOSTON REDEVELOPMENT AUTHORITY 1 • august 2014 • HotelsHotels >> in << BostonBoston BOSTON REDEVELOPMENT AUTHORITY HOTELS IN BOSTON | BOSTON REDEVELOPMENT AUTHORITY CITY OF BOSTON Martin J. Walsh, Mayor Produced by THE BRA RESEARCH DIVISION ALVARO LIMA, Director JONATHAN LEE, Deputy Director MATTHEW RESSEGER, Senior Researcher/Economist KELLY DOWD, Research Manager KEVIN KANG, Research Associate NICOYA BORELLA, Research Assistant Interns JINXIN/RODDRICK MA ISAAC RYNOWECER ROHAN LEWIS The BRA Research Division strives to understand the current environment of the City to produce quality research and targeted information that will inform and benefit the residents and businesses of Boston. The Division conducts research on Boston's economy, population, and commercial markets for all departments of the BRA, the City of Boston, and related organizations. The information provided in this report is the best available at the time of its publication. All or partial use of this report must be cited. Our preferred citation is as follows: Boston Redevelopment Authority/Research Division, August 2014 For more information about research produced by the Boston Redevelopment Authority, please contact Kelly Dowd, Research Manager, by email at
[email protected] or by telephone at (617) 918-4474. HOTELS IN BOSTON | BOSTON REDEVELOPMENT AUTHORITY 3 Boston’s Hotel Market AUGUST 2014 I Introduction Boston attracts more than 12 million visitors every year.1 The City draws many tourists due to its rich history and culture, but also hosts world- class conventions and businesses. Smith Travel Research (STR) ranks the Boston metropolitan area as one of the top 25 hotel markets in the United States.2 Hotels in the City of Boston outperformed the national average and the Boston metropolitan area in terms of occupancy rate and revenue per available room (RevPAR).