nuresh maredia
Houston Hotel Market: Will 2017 be Up or Down?
Nuresh Maredia | February 27, 2017
By Nuresh Maredia With Super Bowl 51 in the history books, Houston hotels are back to facing an uncertain future. The big question to answer in 2017 is, will this be a year of ups or downs for the local hotel market? 2016 was not a good year for the Houston hotel market as hotel occupancies declined 9.1%, ADR declined by 3.6%, and overall RevPAR declined by 12.4%. It was the worst performing among the top 25 hotel markets in 2016. Compared to Houston, the Dallas hotel market recorded a RevPAR increase of 5.7% in 2016. Despite Houston being such a diverse market, the recent downturn in the hotel market highlights the fact that the energy...
Continued Growth in the Dallas Hotel Market
Nuresh Maredia | July 30, 2015
By Nuresh Maredia The Texas economy had a bumpy start in 2015 due to a sharp drop in global oil prices in late 2014, which resulted in thousands of lost jobs. However, the continued growth of the Dallas-Fort Worth market's broad and diversified economy is one reason Texas managed to stave off a downturn despite those oil-related job losses. A diversified and growing economy, robust convention market, growing tourism and increasing population have all contributed to the success of the Dallas-Fort Worth hotel market. The hotel market occupancy increased from 52.8% in 2009 to 67% in 2014 and is projected to grow for the foreseeable future....
Recession Recovery and Continued Growth in the Houston Hotel Market
Nuresh Maredia of Hotel & Leisure Advisors | January 16, 2014
By Nuresh Maredia Summary: Houston went through a devastating recession in the 1980s when the price of oil plummeted and thousands of jobs were lost. History repeated itself and the price of oil plunged again in 2008. However, this time the impact was much less for Houstonians. This was true of the Houston lodging market also, compared to other major metropolitan cities around the country. The lodging industry in Houston bounced back quickly from the recession primarily due to the expanding energy industry in the Houston area. Increased activity in southwest Texas at the Eagle Ford Shale has also benefited companies located in Houston. ...
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