The Fort Worth Business Press reports on hotel projects that are planned or under construction for the city. The article Guest Service: Fort Worth looking to grow downtown hotel offerings outlines how downtown Fort Worth has become a magnet for hotel developers.
The Fort Worth Convention & Visitors Bureau conducted a study noting how the area is undersupplied:
“There is definitely room for more hotel growth,” said Andy Taft, president of Downtown Fort Worth Inc. “We’re working with several developers to find available land downtown.”
Leveraging data from Source Strategies, Inc. allowed the Business Press to quantify these needs:
San Antonio-based Source Strategies, a research and consulting firm for the Texas hotel industry, reported that room nights sold increased 6.5 percent the first quarter of 2018, double last year’s rate for the entire Fort Worth-Arlington market, which includes all of Tarrant County. Room revenues for the first quarter grew 8.6 percent to $244 million, according to the report.
The Dallas metro area’s room nights increased 5 percent in the first quarter with revenues rising 7.9 percent to $566 million.
Although Dallas is a much bigger hotel market, Fort Worth’s percentage growth is higher, according to Todd Walker, president of Source Strategies.
The article notes what new lodging developments people in Fort Worth can expect:
The newcomers will include an Aloft hotel, with 180 rooms, a Hilton Garden Inn with 162 rooms, an AC Hotel with 246 rooms and a Marriott Autograph in at the historic Sinclair Building, with 164 rooms.
Read the full article Guest Service: Fort Worth looking to grow downtown hotel offerings at the Fort Worth Business Press website.