Mar 9, 2017
Longview’s hotel market occupancy down
LONGVIEW – Hotel occupancy rates continued to decline in fourth quarter 2016, according to Source Strategies, a San Antonio-based firm. The downward trend has affected markets in the oil patch for...
LONGVIEW – Hotel occupancy rates continued to decline in fourth quarter 2016, according to Source Strategies, a San Antonio-based firm. The downward trend has affected markets in the oil patch for two years. 
By contrast, areas in the state with less dependence on oil and gas saw revenues grow a healthy 4.9 percent in the quarter ended Dec. 31, 2016 from a year earlier.
The occupancy rate in Longview fell to 49.5 percent from 51.5 percent in 4Q 2016.
For the full year, the Longview area occupancy rate dropped to 51.1 percent from 57.5 percent in 2015.
As defined by Source Strategies, the Longview market has 44 hotels with 2,800 rooms and includes Kilgore, Gladewater, Henderson and Gilmer, said Paul Vaughn, an analyst who is senior vice president at Source Strategies.
Vaughn said he is seeing "optimistic signs for the coming year" with an upturn in the oil and gas industry.
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