The HVI is the authoritative guide to U.S. hotel values, giving hotel stakeholders an educated edge in buying, selling, and holding opportunities. This online tool provides historical and projected values and RevPAR for the Boston market.
Hotels in Fort Lauderdale and the greater market recorded a banner year in 2019. The new decade kicked off a strong start with expectations that the momentum would continue, led by the demand from Super Bowl LIV held in nearby Miami Gardens. However, the onset of COVID-19 in March 2020 brought travel to a sudden standstill across the nation, immediately impacting hotels in the local market.
The COVID-19 global pandemic has significantly impacted lodging markets across the country; however, each submarket has been affected differently, which has largely depended on the supply and demand forces of that submarket. As a renowned leisure destination that has weathered economic downturns and natural/ecological disasters in the past, the Florida Keys has proven to be resilient, and this recovery should be no different.
Cape Cod has long been one of the most popular summer destinations in the Northeast, known for its quaint, aptly named, Cape Cod-style homes and world-class seafood, along with unique lodging options. Despite some short-term headwinds, the Cape Cod hotel market is poised for long-term success.
Each year, HVS researches and compiles development costs from our database of actual hotel construction budgets. This source now provides the basis for our illustrated total development costs per room/per product type.
Boston continues to strengthen on several fronts. The entrance of new lodging supply has been back in full force in recent years. This article highlights some of the major commercial and hotel developments occurring throughout Boston.