The Texas Hotel Performance Factbook documents the hospitality industry’s road to recover.
After more than a year of historic, unprecedented revenue losses in the Texas hospitality industry, lodging demand spiked sharply in the Second Quarter across the state. Statewide industry revenues were 163% higher than Second Quarter 2020, which was the lowest point of the COVID-19 pandemic-induced crisis. The metric for recovery is a return to 2019 levels in the hospitality sector, and Second Quarter 2021’s revenues of $3.1 billion were just 5% lower than the same period in 2019. This is a promising start to a return to profitability, but it remains to be seen if this activity level will be maintained through the rest of the year as the summer travel/vacation season gives way to autumn, the return to school and renewed virus concerns.
Demand as measured by Room-Nights Sold doubled in the Second Quarter of 2021 compared to 2Q 2020 and exceeded the 2Q 2019 level. Much of this demand was prior to the latest pandemic wave as the delta variant of the coronavirus spreads in Texas.
All Texas metros experienced significant revenue and demand increases from Second Quarter of last year, with major metros like Austin and San Antonio leading the way. Source Strategies’ quarterly Texas Hotel Performance Factbook provides detailed individual listings of over 5,000 Texas lodging properties, tracking the recovery in Texas hospitality.
To help understand the current environment in the Texas lodging industry we have added an extra column in the Factbook showing comparable 2019 REVPAR figures to illustrate each hotel’s return to a pre-pandemic revenue level.
the Second Quarter Texas Hotel Performance Factbook shows almost every hotel in the state and is available to order now.[/vc_column_text][/vc_column][/vc_row]