Texas Leads the Charge in Hotel Expansion
The hotel industry across the United States is in growth mode, but few areas are experiencing the pace of expansion seen in the Lone Star State, according to a recent New York Times article.
In fact, after New York and Los Angeles, three Texas cities: Dallas, Houston and Austin are the top three U.S. metro areas in terms of projected openings of new hotels in 2017. A pro-business, pro-development outlook among local officials is one factor in the expansion. Another is the presence of relatively large areas of open land for development.
Meanwhile, demand for hotel rooms across the U.S. continues to rise along with the economy at large. Revenue per available room (revpar), which reflects the hotel’s daily room rate multiplied by its occupancy, has grown for 83 straight months in the U.S, the article said.
Expansion plans in the Texas cities noted above include:
Marriott: eight new hotels in Austin; seven in Houston and 23 in the Dallas-Fort Worth area in 2017 alone; 92 other hotel projects are in the works for the three cities.
Hilton: 75 hotels in the three cities are now in the planning stage
InterContinental Hotel Group: More than 100 projects are planned for the three cities, including various brands such as Candlewood Suites, Crowne Plaza, Even hotels, Holiday Inn and others.
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