The New England hospitality design market is experiencing a hotel development boom in secondary Boston-area markets and other promising submarkets in states like Maine, New Hampshire, and Rhode Island. What is driving this?
These submarkets offer developers a desirable alternative to the extremely high market rates in today’s major urban centers. In these secondary markets, there is less competition, more property development opportunities, lower barriers to entry, and a higher potential return on investment. Lastly, these submarkets allow more flexibility to create an authentic and unique hotel design experience, for which today’s travelers are craving.
Let’s explore this further and take a look at a few New England areas where we see this taking place.