Search
 

Boston Hotel Market Drawing Strong Interest

BOSTON-At least eight hotels have sold in Greater Boston since 2005, making it one of the hottest times for hotel investors in the city's history.

By Beverly Ford | Updated on January 11, 2007

BOSTON-The city’s hotel market is in “full-stride recovery” and drawing strong interest from investors eager to cash in on higher occupancy and room rates, hotel analysts tell GlobeSt.com. “It’s a little bit of the perfect storm,” says Stephen Kindl, managing director of investment sales for the Plasencia Group and head of debt placement for TPG Capital Markets. Pent up investor demand and supply constraints have turned Boston into a red-hot hotel market for both buyers and sellers of hotel properties.

Joe McCann, president of Optimum Hotel Brokerage in Elkins Park, PA, tells GlobeSt.com that the recovery of the Boston hotel market, which has lagged behind New York and Washington, DC, is being fueled by increased lodging demand and higher room rates that has pushed the market into a “full-stride recovery.”

Since 2005, at least eight hotel properties have been sold in the Greater Boston area, making it one of the hottest times for hotel investors in the city’s history, Kindle says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.