Boston-area hotels had their best showing since 2007 last year, reaching five-year highs in occupancy, room rates, and revenue per available room, according to the hotel consultancy PKF Consulting USA.
The average daily room rate in Greater Boston was nearly $185, an increase of 8 percent over last year. Occupancy was at 74 percent, up 1 percent, and revenue per available room rose 9 percent to more than $137, according to PKF's annual data, which are based on a monthly sample of hotel rooms in each year.
Over the past seven years, the best year for Boston area hotels was 2007, which had an average revenue per available room of almost $159.
Nationwide, the average daily rate was $106, up 4 percent; hotel occupancy rose above 61 percent, a rise of 2.5 percent; and revenue per available room increased 7 percent to $65, according to the hotel research firm Smith Travel Research.
“Boston continues to be a very strong hotel market,” said Andrea Foster, vice president at PKF. “We’ve seen and will continue to see strong average daily rate increases because of the scarcity of hotel room availability.”
Katie JohnstonKatie Johnston can be reached at firstname.lastname@example.org. Follow her on Twitter @ktkjohnston.