Sleeping in style
Guests in Fort Worth are checking in to some of the most profitable hotels in the state, experts say.
A new report from San Antonio-based hotel consulting and research firm Source Strategies Inc. indicates nine of last year’s top 200 Texas hotels for revenue per available room (RevPAR), a key metric of financial performance in the hotel industry, were in Fort Worth. Another 16 hotels landed elsewhere on the list of 524 hotels.
Topping the revenue list for local hotels was the Ashton Hotel, which ranked No. 72, with RevPAR of $163.53. The Omni Fort Worth Hotel (No. 80) is the only other hotel that made the top 100. Another seven hotels are part of the top 200 in revenue per available room.
For all hotels in the Fort Worth-Arlington area, RevPAR in 2018 averaged $76.54, up from $72.83 in 2017 and compared with $69.76 statewide in 2018, Source Strategies says.
Overall, hotel revenue in the Dallas-Fort Worth-Arlington metro area jumped 8.5 percent last year to $3.277 billion. The metro area, which accounts for 27.7 percent of the state's hotel market, also posted a 68.9 percent occupancy rate, the report shows. With the addition of 1,400 hotel rooms in 2018, Fort Worth-Arlington's supply of hotel rooms grew more than 4 percent, the report adds.
The Ritz-Carlton was the only Texas hotel with RevPAR above $300 in 2018. In second place statewide was the Four Seasons Hotel in Austin ($290.85). Hotel Emma in San Antonio ($287.27) placed third, South Congress Hotel ($256.23) ranked fourth, and Hotel San Jose ($256.21) ranked fifth.
The highest ranking Houston hotel was Hotel Granduca (No. 12), with RevPAR in 2018 of $223.07.