Ray Hankamer's Recap of the O'Connor & Associates Hotel/Lodging Forecast Luncheon

O'Connor & Associates Hotel/Lodging Forecast Luncheon
by Ray Hankamer

(L to R) President of O'Connor & Associates, Pat O'Connor and Bruce Walker, President of Source Strategies of San Antonio

Here is a recap of BruceWalker’s (President-Source Strategies of San Antonio) comments at the O’Connor & Associates Hotel Forecast Luncheon:
• The bottom of the hotel recession in Houston was Q3 2009

• We have had 11% growth of rate and occupancy in last 12 months

• It will be 2013 however, before we are back to the twenty year room nights sold growth trend line

• Texas, with 8 % of US population, is creating 37% of new jobs

• As hotel projects started before the recession are completed, and few new ones are started, supply is not keeping up with this new demand, which will lead to further growth in occupancy and rate

• Growth in Odessa up 58%; Midland up 39%; Laredo up 35%, and some projects on the boards for the Brush Country and other areas where there is a pickup in oil and gas activity

• In Houston, room nights sold up 9% and revenue up 12% over last 12 months, and this trend is expected to continue

(L to R) Lyla Talbot with Old Republic National Title Insurance Company, Ray Hankamer with Hankamer Commercial Brokers, and Robyn Drago with Texas Capital Bank.