Boston hotels are in greater demand than earlier this year, while suburban hotels still have declining revenues, according to Boston-based PKF Consulting’s recent trend report.

The report found RevPar, or Revenue Per Available Room, in July was down 10 percent – the least severe figure year-to-date. In June, RevPar was down more than 20 percent.

"Lower RevPar declines brought about by increases in demand may lead to continued signs of the beginning of a recovery in the Boston hotel market," the report reads. "However, all must remain patient as it may still be some time before any meaningful gains likely occur."

The immediate Boston area continues to have slightly declining revenues, but at lower rates than the suburbs, the report found.
Hotels in Cambridge, Rte. 128, and Rtes. 495 North and South had 14 percent to 16 percent decline in RevPar, in July.

Demand increased at downtown Boston and Cambridge hotels for the month, while hotels in Back Bay recorded slight decreases in occupied rooms.

In July, the average daily room rate in Back Bay was $191.99, compared to $93.91 along Rte. 495 North. RevPar was down 9.4 percent in Back Bay compared to 15.9 percent along Rte. 495 South.

The survey includes 87 properties in the Boston area with 20,342 available rooms.

Report: Boston Hotel Market Shows Improvement

by Banker & Tradesman time to read: 1 min
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