Hotels’ revenue up in 3rd quarter
Expert says S.A., most metro areas of Texas helped partly by good economy
San Antonio hotels raked in about $19 million more between July and September than they did during the same stretch last year.
Hotels and motels in the metropolitan area generated about $342 million in revenue in the third quarter, according to a report by Source Strategies Inc., a San Antonio-based hotel consulting company.
Revenue per available room, a key measurement of hotels’ performance, was $74.88 — the second highest among the state’s major metro areas.
“There’s not an overabundance, and hotels are still getting a high amount of revenue,” said Paul Vaughn, senior vice president at Source Strategies. “There’s a pretty good balance between supply and demand.”
San Antonio and most of the state’s other major metro areas benefited from a strong state economy and high crude oil prices in the third quarter, he said.
City Council members approved a “tourism public improvement district” Thursday, with the goal of bringing in more
revenue to promote San Antonio and its attractions to visitors. It’s expected to generate $10.4 million in its first year through a new hotel fee.
Hotels in Midland and Odessa