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TheBostonian

"14 of Boston's 61 hotels have opened since 2002"

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But why such a hotel boom?

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Historically, Boston has not had enough hotels. So the boom was needed, especially with the construction of the new convention center. The boom is also related to swings in the development cycle, office construction fell off as demand has dropped, so hotel construction has filled the vacuum (along with institutional construction, hospitals, colleges...).

You see swings in what types of buildings get built as the economy changes, basically, there is always money to be invested in construction, the economy determines what type of construction that money gets invested in. It's been a good climate to invest in hotels lately.

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The rate of approval doesn't really slow the number of buildings built once it reaches equilibrium. It's the cost and uncertainty of the process that slows development.

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