The Austin Business Journal reported on slowing of the Texas hotel market in the second quarter with special attention to the peculiarities of the Austin lodging market. The article, Austin home to majority of state’s 10 most-lucrative hotels; Four Seasons, Hotel San Jose & more highlighted in Q2 report appeared online on September 25th.
Leaning heavily on data from Source Strategies, Texas’ leading lodging industry consultants, reporter Jan Buchholz noted the current strength of Austin’s hotel sector:
Austin still leads the state in occupancy rates with an average of 77 percent, outpacing Dallas-Fort Worth by nearly 6 percent.
Austin far eclipses all other markets in the state for average room rate and revenue per available room, or RevPAR. It’s one of the most important indicators of a hotel’s success.
Austin’s RevPAR rate for the last quarter was $108.87 per room. San Antonio came in second but way down at $77.48.
Notably, Source Strategies pointed out that seven of the top ten hotels in Texas are in Austin. Ranked by revenue per available room (RevPAR), these include:
- Four Seasons Hotel
- The San Jose Hotel
- W Hotel
- The Driskill Hotel
- Westin Downtown
- Travaasa Experiential
- South Congress Hotel
The article also notes where other prominent Austin hotels have moved up or down the list:
The Austin Motel — the quirky renovated motor inn on South Congress Avenue owned by Bunkhouse Group — shot up to No. 54 on the list from No. 111 a year ago.
Archer Hotel, the new brand at Domain Northside that I’ve written about in detail, debuted for the first time at No. 43, a very respectable ranking.
Hotel Granduca in West Austin, which has struggled to gain traction after it was completed in 2015, has gained substantially, logging in at No. 100 way up from its 2016 ranking at No. 446.
Read the full article, Austin home to majority of state’s 10 most-lucrative hotels; Four Seasons, Hotel San Jose & more highlighted in Q2 report, at the Austin Business Journal.