Hurricane Harvey impact on hotel markets
However, four of 13 STR-defined submarkets reported a year-over-year occupancy decline during the nine-day period analyzed by STR’s Consulting & Analytics department.
Additionally, significant occupancy decreases were reported in the southern Louisiana 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%) and Galveston/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 $41.30.
The Houston North/Woodlands and Houston George Bush Airport Area submarkets saw the largest occupancy increases at 42.3% and 38.3%, respectively.
In Louisiana, the Louisiana South and New Orleans markets saw occupancy decreases of 38.3% and 22.6%, respectively. ■