The Austin Business Journal covered the release of the latest Hotel Brand Report from Source Strategies, picking out some interesting points relating to the Austin lodging market. Senior Staff Writer Jan Buchholz notes that Austin maintains the highest REVPAR (Revenue per Available Room) and Occupancy in the state as well as new reporting from San Francisco-based Airbnb making a major impact in the market.
The article, A mixed bag for Austin hotels: Overall market strong in Q3 but many top-performing properties slip in new ranking (subscription required), points out the disappearance of all Austin properties from the list of top 10 hotels ranked by REVPAR. Several Austin luxury hotels had precipitous drops in REVPAR including the Four Seasons Austin, the Travaasa Experiential and the Omni Barton Springs Resort & Spa. Regarding the Omni, the article quotes Source Strategies Senior Vice President for some insight:
“(It) had a huge fall-off in revenue reported and therefore dropped off the list,” said Paul Vaughn, senior vice president of Source Strategies. “This may be a reporting error on their part, a partial report if the hotel changed owners or an actual business decline.”
Check out the Austin Business Journal site to read the full article, A mixed bag for Austin hotels: Overall market strong in Q3 but many top-performing properties slip in new ranking (subscription required).