Backed by lodging industry intelligence from Source Strategies, The Longview News-Journal reports today that area hotel revenues and occupancy dropped in the third quarter.
Author Ken Hedler reports:
Longview metro area revenues were down 6.7 percent while occupancy rates fell 8.4 percent in the three months ending Sept. 30, according to the latest Hotel Brand Report from San Antonio-based Source Strategies Inc. For the year to date, revenues were down 12.7 percent and occupancy rates were down 13.3 percent.
The Longview market includes nearby towns such as Kilgore and Tatum, said Source Strategies President Bruce Walker, who has been compiling the data statewide for 30 years. The Longview-area occupancy rate was 51.1 percent during the third quarter in a market that included 45 hotels and 2,800 rooms.
Hedler goes on to interview C.J. Clayton, general manager of Staybridge Suites and regional sales manager for La Quinta North, Candlewood Suites and Holiday Inn Express & Suites North:
“I feel like Odessa and places like that were hit hard,” she said.
The Odessa market saw revenues drop 36 percent and occupancy fall 24.9 percent during the third quarter from a year ago, according to Source Strategies.
The article ends on an optimistic note, however:
Both Clayton and Walker said there are signs the industry will improve in 2017.
Read the full article, Longview-area hotel revenues, occupancy drop in 3rd quarter, for more details.