Gracie Gold won the U.S. Figure Skating Championship at TD Garden.
Thomas Grillo
Real Estate Editor- Boston Business Journal
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Greater Boston’s hotels had their strongest December in six years, fueled in part by 15,000 visitors who came to the region for the U.S. Figure Skating Championships and the Massachusetts Conference for Women.
According to PKF Consulting and Hospitality Research, which surveyed 96 local hotel operators, the Boston area had an average occupancy rate of 55.4 percent and an average daily room rate of $147.78 in December. Taken together, those metrics combined for average revenue per available room (RevPAR) of $81.88.
On a year-over-year basis, the performance represented a 3.1 percent increase in occupancy; a 3.1 percent increase in ADR; and a 6.2 percent increase in RevPAR. December’s occupancy, ADR and RevPAR rates ranked as the market’s highest since 2007, when RevPAR topped $94, according to PKF.
For all of 2013, hotel operators posted an average occupancy rate of 76.1 percent and ADR of $191.33. The group’s RevPAR for the year was $145.66. All three metrics were up on a year-over-year basis, with occupancy rising 2.1 percent; ADR up 3 percent; and RevPAR up 5.2 percent.
The Back Bay’s 5.6 percent growth in occupancy was the region’s strongest in 2013, while the Route 128 submarket led in ADR gains with a 6.2 percent increase. Overall, hotels priced over $200 per night reported a 5.9 percent increase in occupancy rates, while hotels in the under $100-per-night segment reported the strongest ADR growth (3.9 percent for the year).
“Last year we saw domestic and international leisure travel comeback stronger than any other time since 1999 and 2000,” said Patrick Moscaritolo, CEO and president of the Greater Boston Convention and Visitors Bureau. “In addition, the corporate road warriors are back on the road.”
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