CBRE predicts modest growth for Austin hotel market

​AUSTIN – The local hotel market saw a stable year through 2018 as demand remained steady, although slightly declined from 2017, with an overall rise in average daily room rates, according to CBRE’s recent Hotel Horizons report.

The forecast shows occupancy will rise 0.2 percent by the end of 2019 to 70.4 percent. It will rise another 0.1 percent in 2020, well above the long-run average of 67.2 percent.

The average daily room rate is predicted to rise 1.4 percent by year end with a continued 1.7 percent rise in 2020.

Austin will continue to see a gain in room night demand of 5.6 percent through 2019, greater than the long-run average of 3.6 percent.