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Conventions, Graduations Boost Hotel Bookings

Jul 8, 2014 | Reprints | Unlock Link | Print

Convention business and graduation season boosted bookings at Boston-area hotels in May, which had their strongest financial performance for the month in nine years.

Occupancy rates hit 83.8 percent at 97 hotel operators surveyed by PKF Consulting USA.

The average daily rate was $223, up 8.6 percent from May 2013. Revenues per available room rose 12.2 percent to $186.50.

Convention business generated an additional 30,000 room nights compared with the previous year, pushing the downtown Boston occupancy rate to 88.7 percent.

In the Greater Boston core market consisting of Back Bay, downtown and Cambridge, average daily rates rose 9.4 percent to $267. Suburban properties’ daily rates averaged $123, up 7.4 percent.

Commercial