The Beacon Hill Hotel & Bistro is located in the heart Beacon Hill, one of Boston’s oldest and most well-known neighborhoods. Charles Street, which runs from the Massachusetts General Hospital to the Public Garden, is Beacon Hill's main commercial area with a variety of retail boutiques, antique stores and restaurants serving both the residents of the neighborhood and its abundance of tourists. Beacon Hill is extremely pedestrian friendly, easily accessible by car (with access to both Interstate 90 and Interstate 93 via Storrow Drive) and is proximate to stops on both the MBTA Red and Green lines.
Greater Boston is one of the largest metropolitan areas in the country with over 4.7 million residents. The city is expected to continue to strengthen its position among the country’s top real estate markets due to its low unemployment (4.3%), highly educated workforce and booming local economy. The city has the highest percentage of young professionals in the country with approximately 35.0% of the population between 20 and 34 years old. Unemployment rates in the city are at a new low of 3.7% compared to 5.5% for the nation, and employers in Boston are expected to create an additional 43,000 jobs in 2015.
Boston's economic growth is mainly driven by the education, technology and life sciences industries. Within the last few years there have been over 25,000 office jobs brought to the market by the life sciences and high tech sectors. Greater Boston is also home to 52 colleges and universities and has the highest percentage of college students in the United States.
List of Fortune 500 Companies Headquartered in the Greater Boston area
|Thermo Fisher Scientific
|State Street Corp.
Boston is easily accessible to residents and visitors alike via many different modes of transportation including: roadway, subway, regional rail, air and sea. The Massachusetts Bay Transportation Authority (MBTA) operates bus, subway, commuter rail and water ferry passenger services throughout the city and Greater Boston region. As such, Boston is ranked third in the country for public transit availability. Amtrak also operates passenger rail service to and from Boston to major northeastern cities. Boston is bisected by two major highways: Interstate 90 (The Massachusetts Turnpike), running east to west; and Interstate 93, running north to south.
Logan International Airport
Boston Logan International Airport is New England’s largest transportation center and ranks 18th in the nation in passenger volume. Logan Airport accommodates over 31 million passengers annually with more than 40 airlines that fly nonstop to over 100 domestic and international destinations. The airport employs approximately 12,000 workers and stimulates the regional economy by $7 billlion each year.
Tourism and Attractions
Boston is home to two convention centers, the Boston Convention and Exhibition Center (BCEC) and the Hynes Convention Center, both operated by the Massachusetts Convention Center Authority (MCCA). Over the course of 2015 there were 262 events held between the two convention centers which brought in over 742,000 attendees, generated 632,433 hotel room nights and contributed a $784 million economic impact.
Boston attracts more than 19 million visitors to the city each year that come to enjoy a variety of entertainment and tourist attractions including a multitude of historic sites, top-notch museums, high-end shopping, fine arts and a variety of sporting and musical events. Some of the city's most popular attractions include: The Freedom Trail, with over 4 million annual visitors each year; Faneuil Hall, with over 18 million visitors each year; and the Boston Common and the Public Garden. Boston is also home to three professional sports teams that play directly in the city including the NBA’s Boston Celtics and NHL’s Boston Bruins who play at TD Garden, as the Boston Red Sox who play at historic Fenway Park.
Boston Hotel Market Overview
The Greater Boston lodging market, comprised of 51,000 keys, is expected to see significant gains over the next several years according to PKF, a leading lodging consulting firm. RevPAR is projected to increase by 9% in 2015 and by 6.4% over the course of 2016. This increase in RevPAR is primarily driven by the projected growth of the Average Daily Rate (ADR) of 7.3% in 2016 with the growth trend extending through 2019 as well. Occupancy levels are projected to end 2015 strong at 76.5 percent, a record-level high.