Houston hotel industry rebounds

September 28th, 2012 11:38am
Houston hotels are set to return to pre-recession productivity by the end of the year.When cities have a large presence of hotels, this is often an indicator of a strong economy. Hotels allow for travelers from across the world to visit a city for business or pleasure, and a new report indicates the Houston hotel industry is experiencing a period of notable growth.

Houston hotels are expected to fill rooms at increased costs in the coming years, according to a report from the Houston Chronicle. By the end of 2012, hotels occupancy rates downtown, Galleria/Greenway, Texas Medical Center and Katy Freeway/Westchase could return to pre-recession levels.

"Houston is getting ready to embark upon another real strong growth period," PKF Consulting's Randy McCaslin told the Hotel & Lodging Association of Greater Houston, according to the news source.

The national hotel industry took a huge hit in recent years following economic hardship, but the industry in Houston is recovering much quicker than hotels throughout the rest of the country.

Taking this as an indicator of an improving economy, local residents should consider making the transition to homeownership in the near future. Houston home prices have increased significantly so far this year and are expected to continue doing so in the coming months.  


Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.