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Ritzy Uptown Dallas hotel retains crown as most lucrative in Texas
It's a shiny new season for one of Dallas' poshest spots. In a new report, hotel consulting and research firm Source Strategies Inc. says the No. 1 Texas hotel for revenue generation in the second quarter of 2018 was the Ritz-Carlton Dallas.
The San Antonio-based firm measured the financial success of hotels by the industry yardstick known as revenue per available room per night, or RevPAR. The Ritz-Carlton in Dallas took the top spot in an increasingly competitive market. The hotel also stood on the top rung of the RevPAR ladder in 2017.
RevPAR for the 218-room Ritz-Carlton reached $354.44 in the second quarter, up 11.8 percent from $317.11 during the same period in 2017, according to Source Strategies.
Dallas hotels the Joule and Rosewood Mansion on Turtle Creek landed at the No. 5 and 6 spots on the list, respectively.
Elsewhere in Texas, there were some surprises. The No. 3 hotel was the 291-room Four Seasons Austin, which occupied the No. 2 slot in the second quarter of 2017. Its revenue per available room per day dipped slightly, going from $296.09 in the second quarter of last year to $291.66 during the same period this year, according to Source Strategies.
San Antonio's esteemed Hotel Emma rocketed from No. 10 to No. 2 spot, knocking the Four Seasons from second to third place. The 146-room Hotel Emma rang up $302.32 in RevPAR during the second quarter of 2018, up 25 percent from $242.82 in the second quarter of 2017.
“Hotel Emma has seen steady growth since its opening in 2015, with RevPAR doubling since its first year of operation,” Todd Walker, president of Source Strategies, tells CultureMap.
In the second quarter of 2018, the top 10 Texas hotels as measured by RevPAR were:
- The Ritz-Carlton, Dallas ($354.55)
- Hotel Emma, San Antonio ($302.32)
- Four Seasons Hotel, Austin ($291.66)
- Hotel San José, Austin ($270.33)
- The Joule, Dallas ($269.36)
- Rosewood Mansion on Turtle Creek, Dallas ($268.23)
- South Congress Hotel, Austin ($267.84)
- The Driskill Hotel, Austin ($259.49)
- Lake Austin Spa Resort, Austin ($257.69)
- Hotel Granduca, Houston ($255.97)
Austin had the most hotels on the top 500 list (77), followed by Houston (51), San Antonio (47), Dallas (45), and Midland (33), according to Source Strategies.
