The San Antonio Business Journal again looked at the state of the San Antonio lodging market with the help of Source Strategies, Inc., the leaders in Texas Hotel Data Analysis. Using data from Source Strategies, the Business Journal’s W. Scott Bailey notes the positive trends in San Antonio hotels:
Texas hotel room revenues surpassed $2.7 billion in the second quarter of 2017 and were up 0.9 percent compared to the same three-month period a year ago, according to new data from San Antonio-based hotel consulting firm Source Strategies Inc. San Antonio performed better in the quarter, with its overall hotel revenue increasing 5.1 percent to more than $337.9 million.
The Journal also points out an area of concern to the San Antonio hotels market, quoting Source Strategies Senior Vice President Paul Vaughn:
However, occupancy was down in the Alamo City, with hotels filling just over 65 percent of their rooms on average in the quarter.
Austin and Dallas fared better, with second quarter occupancy rates of 76.6 percent and 70 percent, respectively.
“One of the concerns our chairman has had for a while is that San Antonio has not been doing enough to market itself,” Vaughn said. “We have a feeling some of the business is getting poached by Dallas and Austin.”
The new Source Strategies data shows that San Antonio’s share of hotel business in Texas has slipped from just under 14 percent in 2003 to 12.3 percent in 2017.
Read the full article, San Antonio hotels at risk of losing more business to competing Texas markets, in the San Antonio Business Journal (subscription required).