For the five month period ending May 31, the occupancy rate was 66.4%, up from 63.7% in the same period of 1999. The average daily rate in the five-month period was $89.95, up from $87.97.
The strongest market for Houston hotels was Downtown, where there was an occupancy rate 72.5% and an average nightly rate of $154.84. The downtown room rate was up 6.1% from May of last year.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium contentNOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
