Revved-up revenue
3 Dallas luxury hotels register among the 10 most lucrative in Texas
When it comes to friendly competition among Texas' most-visited cities, Austin’s hotel scene may have clobbered its bigger-city rivals last year, but one Dallas hotel was the biggest revenue generator in the state: The Ritz-Carlton.
And two other Dallas hotels notch into the top 10.
A new report released March 3 by San Antonio-based hotel consulting firm Source Strategies Inc., shows hotels in the Austin metro area dominated the state’s revenue-generation leaders last year. Austin claimed 30 of Texas’ 100 highest-revenue properties, followed by Dallas-Fort Worth, Houston, and Galveston (eight each), and San Antonio (seven).
Austin bested Dallas-Fort Worth, Houston, and San Antonio last year in revenue per available room (RevPAR), a key indicator of financial success for hotels. In 2019, Austin hotels notched a RevPAR of $107.93. The RevPAR figure for San Antonio was $76.59, with Dallas-Fort Worth at $76.24 and Houston at $65.55. The statewide RevPAR average was $69.86.
However, the state’s top revenue-producing hotel of 2019 was NOT in Austin — it was the Ritz-Carlton, Dallas. The Uptown luxury hotel posted RevPAR of $360.95. Just one other hotel in Texas surpassed the $300 mark.
The Ritz-Carlton was on track to earn the accolade, as a report released in December 2019 said the hotel was the No. 1 moneymaker in the third quarter of last year.
Two other Dallas hotels make the top-10 list of 2019: Hotel Crescent Court (RevPAR of $251.29) and The Joule (RevPAR of $235.51).
Here are the top 10 revenue generators in Texas for 2019, based on RevPAR:
- The Ritz-Carlton, Dallas — $350.95
- Four Seasons Hotel, Austin — $308.16
- Hotel Emma, San Antonio — $296.66
- The Driskill, Austin — $262.83
- Hotel San José, Austin — $259.93
- Hotel Van Zandt, Austin — $257.92
- South Congress Hotel, Austin — $255.98
- Hotel Crescent Court, Dallas — $251.29
- The Joule, Dallas — $235.51
- W Hotel, Austin — $234.79
Statewide, hotel revenue grew 4.7 percent in 2019. Total hotel revenue in the Austin area jumped 12.1 percent last year, bested only by Corpus Christi and El Paso. Dallas-Fort Worth saw hotel revenue climb 5.4 percent, with San Antonio at 2 percent and Houston at 1.3 percent.
In the Houston area, the top revenue producer last year was The Post Oak Hotel at Uptown Houston, which recorded RevPAR of $217.13. It ranked 13th statewide for RevPAR in 2019.
