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STR analyzes Hurricane Harvey impact on hotel markets

September 14, 2017 Hotel Trends No Comments Email Email

All Houston hotel submarkets reported occupancy growth after the initial days of Hurricane Harvey. However, four of 13 STR-defined submarkets reported a year-over-year occupancy decline during the nine-day period analyzed by STR’s Consulting and Analytics department. Additionally, significant occupancy decreases were reported in the southern Louisiana area.  http://www.lagunaphuket.com/events/event.php?event=3

“Double-digit occupancy declines were seen throughout a majority of the Houston market up until August 27 when hotels began filling up with displaced residents, FEMA and other demand related to recovery efforts,” said Ali Hoyt, STR’s senior director of consulting and analytics. “The four submarkets directly affected by Hurricane Harvey saw occupancy decline over the nine-day period we analyzed, but most other areas reported double-digit growth during that time. We also saw outlying markets like Austin, Dallas and San Antonio pick up additional demand likely due to shelters remaining full in the Houston area.”

The four Houston submarkets to report an overall occupancy decline from 25 August through 2 September were the Houston CBD (-23.2% to 46.3%), Houston Galleria/Greenway Plaza (-4.3% to 57.2%), Beaumont (-12.2% to 55.4%) andGalveston/Texas City (-21.4% to 41.9%).

Galveston, which is a submarket of less than 7,000 rooms, reported the largest performance drop over the nine-day stretch, with revenue per available room down 42.1% to US$41.30.

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