Greater Houston’s lodging market is stabilizing, with distinct performance differences across submarkets. While 2024 posted strong results lifted by major events and weather-related displacement, inflation-adjusted levels show that real-dollar gains over 2019 are more modest. As 2025 has unfolded, differences between the city and outlying submarkets have become clearer as the market returns to more typical operating patterns.
This fifteenth annual Lodging Tax Study presents data on city, state, and special district lodging and sales taxes imposed on lodging sales. We provide historical data on tax rates and collection and distribution of revenue from lodging taxes levied in all 50 States and the 150 largest US cities. Our analysis of 25 major U.S. hotel markets shows room revenue growth slowing through 2024 and leveling off through the first eight months of 2025, reflecting weakening travel demand across key markets.
Galveston’s lodging market is being reshaped by capital investments and regulatory changes. Since 2019, more than $400 million has been spent on new cruise terminals, resort redevelopments, and boutique hotel conversions, while cruise passenger counts reached a record 1.7 million in 2024. With new projects underway and new short-term-rental oversights, growth will be affected by shifting supply and demand dynamics.
Austin, Dallas, Houston, and Fort Worth are pursuing convention center expansions totaling $7.6 to $7.8 billion, with San Antonio considering an additional $900 million project. These developments are largely enabled by Texas’s innovative financing mechanisms, such as Project Financing Zones. This article examines the scope of these projects and their policy foundations, while analyzing how they shape both Texas’s internal competition and its national positioning in the convention industry.
The Texas Hill Country has been undergoing a remarkable transformation since 2021. Once celebrated for its rustic inns and German heritage, the region is now emerging as a premier destination for rural luxury escapes, fueled by a wave of high-end investments, wellness-focused brands, and experience-driven developments.
Both buyers and sellers want a seamless hotel transaction closing, but a variety of potential pitfalls can slow a closing. In this article, we review three key areas of a hotel sale that may present obstacles: financing, PIP costs, and property insurance premiums. We also provide recommendations to anticipate and prevent issues. Be sure to read this article if you are close to closing and want to ensure your transaction closes smoothly!
This fourteenth annual HVS Lodging Tax Study presents comprehensive data on city, state, and special district lodging and sales taxes imposed on lodging sales. We provide historical data on tax rates and the collection and distribution of revenue from lodging taxes levied in all 50 States and the 150 largest US cities.
San Antonio has long been steeped in tradition and culture, with the city home to numerous historical landmarks such as the Alamo and the River Walk. However, Downtown San Antonio is in the midst of growth and modernization, led by new hotel development.
In this article, we explore the top hotel investment locations within Texas submarkets for 2024. We provide insights into key cities and emerging submarkets, highlighting factors such as demand, developments, and recent trends to guide investment decisions.
The hotel feasibility study is not the only option for hotel developers at the start of a project. In this article, we outline the range of solutions we provide for hotel developers, as well as some of the factors we consider as consultants on these projects.