ROOM BOOM: Austin’s hotel market is sizzling — and there’s opportunity for more development – News – Austin American-Statesman – Austin, TX

Austin’s hotel market continues to sizzle, with both high-rise towers and trendy boutique startups seeing high demand.

And there’s room in the market for more of both, according to a new report by Source Strategies, a San Antonio-based hotel consulting firm that tracks the Texas market.

Revenue at hotels in the Austin-Round Rock metro area jumped 13 percent year over year in the first quarter, the largest increase for any metro area in the state. Fort Worth and Dallas were next at 7.6 percent and 6.1 percent. Average occupancy in Austin was 73.3 percent — well above the state average of about 65 percent.

The average room rate in Austin was $157.34, higher than any other Texas metro area. Austin also took the top spot for revenue per available room – a key industry metric – at $115.33.

Source: ROOM BOOM: Austin’s hotel market is sizzling — and there’s opportunity for more development – News – Austin American-Statesman – Austin, TX