Longview hospitality sector reboundsLongview hospitality sector reboundshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=84142013-01-29T15:00:00Z2013-01-29T07:00:00Z

LONGVIEW - Longview’s hospitality industry remains relatively strong and has rebounded from a drop in hotel stays and room rates during the recession.

Longview hotels in 2012 had revenues of about $29.88 million, according to Smith Travel Research, up about 3 percent from 2011, when the city’s 2,484 hotel rooms resulted in revenues of $28.997 million.

The 2011 figure was up 5.7 percent from 2010 when hotel operators in the city brought in $27.44 million. During the past three years, occupancy rates have averaged in the mid-50 percent range.

A 65,000-sf, four-story Staybridge Suites remains under construction at 3409 N. Fourth St. adjacent to the LaQuinta near Hawkins. Both properties are owned and operated by the 281 Lodging Group, which also owns the Staybridge Suites on Tyler’s E. Loop 323. The 82-room hotel is expected to open in March 2013, and construction costs are estimated at $3.5 million.

Longview Hotel Revenues
Year Hotel Revenues Y-O-Y
2012 $29.88 million 3%
2011 $28.997 million 5.7%
2010 $27.44 million 2.1%

Source: Smith Travel Research

Read more at the Longview News-Journal.

Longview News Journal
http://www.news-journal.com/business/local_business/hotel-revenues-reflect-rebound-in-longview-hospitality-sector/article_a5f95f5b-f770-5f06-beef-8b224a8c9ea5.htmlRead more at {Source}

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