Austin hotel market ‘heartiest’ in Texas

AUSTIN – The Texas Capital is ranked as the "heartiest" hotel market in the state in an analysis from Source Strategies Inc. 

On average, local hotels brought in $109.29 of revenue per available room in first quarter 2018. The average daily rate was $146.89, higher than the statewide average of $106.31 per day. 

Occupancy rates stood at 74.4 percent on average, the second highest in the state after Midland-Odessa. 

The analysis said demand boosted revenue to $404 million, a 13 percent jump from the same time last year. 

Source Strategies argues the Austin market is undersupplied but noted there are more rooms coming down the pipeline to address that demand.