houston hotel market
Greater Houston Lodging Market: On the Mend
Bunmi Adeboye | February 20, 2023
By Bunmi Oyinloye The oil and gas industry remains Greater Houston’s primary economic anchor, defining the market’s business cycle and the area’s economic growth path. The hotel market began to stabilize in 2019 following declines in lodging demand as a result of the volatility of the oil and gas markets, and Greater Houston experienced a steep decline in lodging demand in 2020 given the onset of the COVID-19 pandemic. Recent data illustrate a steady return to pre-pandemic levels, supported by increasing business relocations, ongoing economic development, and the market’s reputation as a global hub for energy, health care, and aero...
U.S. MarketFlash | Houston CRE Market Shows Resilience in Face of Hurricane Harvey
CBRE Hotels | October 2, 2017
Hurricanes, tropical storms and floods are familiar occurrences in Houston and the surrounding Texas Gulf region; more than eight severe floods/hurricanes have impacted the Houston MSA since 1998. But when Hurricane Harvey struck the region near Rockport, TX on August 25, the Category 4 storm was the strongest to hit the region since 1961, dumping more than 50 inches of rain in a matter of days and causing extensive property damage due to flooding. In addition to its devastation on Greater Houston, Harvey's impact was national in scope as well. Port Houston—the largest U.S. port in foreign tonnage and home to the nation's largest ...
