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O’Connell Hospitality Group is pleased to announce the offering for sale of an exceptional oceanfront hotel development site permitted for 120-200 hotel rooms at Waterfront Square located within the Logan Airport Market Boston
Exceptional Hotel Market
The strength of this hotel market is exemplified by its remarkably strong 2014 occupancy rate of 86.6 percent. The stability of this market is also remarkable, as evidenced by the fact that market occupancy was a healthy 74.5 percent at the low point of the most recent hotel cycle in 2009. This demonstrates this market’s resilience to economic downturns and indicates a capacity to absorb new supply. In 2014 the Hotel’s competitive set achieved a remarkable 13.5 percent increase in RevPAR, driven by a 10.9 percent increase in average rate.
Waterfront Square Mixed-Use Development
Master Developer Eurovest Development’s Waterfront Square consists of a master planned, 1.0+ million square foot mixed-use oceanfront development along Revere Beach. Waterfront Square represents one of the most compelling oceanfront development opportunities in the greater Boston area.
Waterfront Square has achieved a critical mass of momentum. The first major private development components of the project are currently under construction, the 194-unit Vanguard at Waterfront Square and the 230-unit 660 Ocean Avenue at Waterfront Square.
All key state and environmental approvals are have been secured for the Hotel Development parcel and fast-track local permitting is in place.Learn More