Houston hotel supply, demand, occupancy updateHouston hotel supply, demand, occupancy updatehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=62582013-09-23T10:01:00Z2013-09-23T00:00:00Z

HOUSTON - Demand for Houston-area hotel rooms — which increased 4.5 percent through second quarter 2013 — will increase 2.3 percent in 2014, 4.2 percent in 2015, 5.2 percent in 2016 and 4 percent in 2017, according to PKF Consulting LLC and Hotel & Lodging Association of Greater Houston.

Meanwhile, supply — much of which coming from the Marriott Marquis — will increase accordingly. The number of rooms in greater Houston will increase 1.6 percent in 2014, 2.9 percent in 2015, 4.8 percent in 2016 and 6.3 percent in 2017.

The average occupancy rate at Houston-area hotels through 2Q 2013 was 67.8 percent — up nearly 2.5 percent from 2012 and up nearly 8 percent from 2011.

The occupancy rate for 2014 is forecast to be 68.3 percent, 69.1 percent in 2015, 69.4 percent in 2016 and 67.9 percent in 2017. An average occupancy rate above 65 percent is a signal that supply needs to increase.

For a list of hotels on the horizon and why a hotel boom in Houston is imminent, check out What's fueling increased growth in Houston's hotel demand?

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/news/2013/09/19/oil-gas-new-convention-center-hotel.htmlRead more at {Source}

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