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GlobeSt.com EXCLUSIVE: Houston Hotels Perform Better Than Most

HOUSTON-Unlike 22 other leading hotel markets, Houston is staying ahead of the game, says a CB Richard Ellis lodging specialist. Other industry watchers concur. Occupancy is up from 2000 and so is the daily room rate.

By Jennifer Brenner Andrade | Updated on October 17, 2001

HOUSTON-Houston is bucking a nationwide blow to the hospitality industry, posting the least amount of losses of the leading 22 markets, Lisa Hankamer, CB Richard Ellis Inc. associate, tells GlobeSt.com.

Hankamer, with the Phoenix-based lodging and hospitality services group, says Houston is down just 7.1% in occupancy from last year. It’s a relatively small drop in comparison to elsewhere. Dallas is down 35.7%, New York City, 41.6% and Los Angeles, 34.7%. She, like others in the industry, isn’t laying the full brunt of the blame on the Sept. 11 attacks on America. The industry was in a slump long before Sept. 11. Last year’s record pace was not expected to be repeated by many industry watchers. But, the drops being reported in all but Houston are unprecedented, she says.

It’s uncertain what the future holds for the industry. “Even prognosticators are saying its anybody’s guess,” says Hankamer. Her statistics are derived from one of the industry’s recognized leaders, Smith Travel Research, which could not be reached by press time.

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