HOUSTON - Houston-area hoteliers are expected to fill more rooms and at higher rates in the coming years, according to PKF Consulting. The area’s hotel occupancy rate is expected to hit 69.4 percent by 2016. This year is projected to end at 63.7 percent.
Houston’s hotel market is recovering much faster than the rest of the country. Besides energy, other sectors of the local economy, like the Texas Medical Center and the Port of Houston, will help fuel the anticipated growth.
Tourism business is expected to grow with events such as the NBA All-Star game in 2013 and the NCAA Final Four tournament in 2016.
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