SAN ANTONIO – The hotel market finished 2018 with increases in occupancy, average daily room rates (ADR), and revenue per available room (RevPAR), according to CBRE’s latest Hotel Horizons.
Occupancy rates were up 1.6 percent and are expected to rise 0.4 percent in 2019, reaching an overall occupancy rate of 66.2 percent. Due to new hotels being built, occupancy is predicted to drop by 1.7 percent in 2020.
ADR gained 3.7 percent last year. It is estimated to increase by 3.2 percent in 2019 and an additional 2.8 percent in 2020. resulting in an ADR of $122.75 by the end of 2020.
The gain in ADR resulted in an overall 5.3 percent boost in RevPAR, far higher than the national average of 2.9 percent. RevPAR is expected to increase by 3.5 percent by year-end and another 1.1 percent in 2020.
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