Meeting News - August 11, 2008 - (Page 63)

Destination Insider: Boston Edited by Terri Hardin terri.hardin@nielsen.com Beantown Maintains ‘Gateway City’ Status Despite Downturn PKF Hospitality analyst cites infrastructure, accessibility, and value for Europeans as keys to city’s continuing success Despite bad economic times, Boston is bustling with new and renovated properties crisscrossing a wide spectrum of locations and price points, from a downtown Holiday Inn Express to a Mandarin Oriental to a Theater District W hotel. Barring construction delays or management pullouts (e.g., as when Regent Hotels & Resorts abruptly bowed out of the $300-million Battery Wharf project just prior to its scheduled opening this summer), the city could see a 1,000 more hotel rooms by year end, with another 500 going on line next year, including Foxboro’s much-hyped Renaissance Patriot Place. And though not enjoying the boom times of just a few years ago, Boston is nonetheless faring better than much of its competition, thanks to a variety of reasons. “Part of it is due to Boston being an international destination,” said Reed Woodworth, a VP at PKF Hospitality Research.“It’s always been an international gateway, and while the U.S. dollar is poor right now for us, it’s great for Europeans. They’re arriving emptyhanded and leaving with full shopping bags.” Moreover, they’re paying good money to stay in town. PKF reported that the city’s firstquarter occupancy rate was 67 percent and average room rate was $160. Both were comfortably above national levels. The “gateway” moniker also applies to Boston’s accessibility. “We have an excellent transportation infrastructure,” said Bostonbased Woodworth, who cites the city’s rail connections, as well as its improved roadways (as in Big Dig). “Despite the price of gas, this is very much a driving destination, especially from other Northeast markets,” he said.“People who can’t afford to fly to Boston can still facilitate business travel here. That helps to insulate the Boston market somewhat from the current economic downturn.” While that’s all good news for Boston’s hospitality industry, the city remains one of the country’s pricier destinations for group business. “Nevertheless, it’s cheaper than some of the other big players like New York and San Francisco, particularly in terms of www.meetingnews.com group facilities,” said Woodworth.“That’s where the cost differential can really kick in, in terms of choosing a destination, so people are willing to —Marc Boisclair spend their money here.” r Your Gateway to Boston. And Beyond. Hop a water taxi from Logan Airport. Network over Aura’s gourmet cuisine. Cruise into our full service health club. With Seaport as your hub, the city’s best is just minutes from your door. Seaport offers luxury accommodations in the heart of Boston’s new waterfront district. And as Boston’s most accommodating host, we provide a 20% discount on greens fees to the award wining Granite Links Golf Club. 800.515.5913 SeaportBoston.com/go/hubmn TA I L O R E D TO YO U August 11, 2008 MeetingNews 63 http://SeaportBoston.com/go/hubmn http://SeaportBoston.com/go/hubmn http://www.meetingnews.com

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Meeting News - August 11, 2008

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