Bottom drops out of Texas hotel market in second quarter – Midland Reporter-Telegram

The Texas hotel industry suffered its worst decline on record in the second quarter as business and leisure travel ground to a halt in the early months of the pandemic and very little has returned.

Statewide hotel revenue plunged 64 percent compared with the year earlier to $1.2 billion, according to new data from San Antonio-based Source Strategies. Demand, measured by number of room nights sold, fell by nearly half as COVID-19 decimated the state’s — and country’s — lodging industry.

Source: Bottom drops out of Texas hotel market in second quarter – Midland Reporter-Telegram