Posh downtown Austin hotel among the most lucrative in Texas
It's a new season for one of Austin's poshest spots. In a new report, San Antonio-based hotel consulting and research firm Source Strategies Inc. says the No. 3 Texas hotel for revenue generation was the 291-room Four Seasons Austin, which occupied the No. 2 slot in the second quarter of 2017.
The Four Seasons' revenue per available room per day (RevPAR) 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. RevPAR is a key indicator of financial performance in the hotel industry.
San Antonio's esteemed Hotel Emma rocketed from No. 10 to No. 2 spot, knocking the tony Four Seasons Austin 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. “The synergy with the upscale Pearl retail complex and the Emma’s continuing commitment to a quality boutique hotel experience have propelled it be one of the top lodging performers in the state.”
Since debuting three years ago, Hotel Emma has been a favorite of guests and industry critics alike. In May, the hotel garnered a coveted 5-star rating from AAA. Four months earlier, another high honor was bestowed upon Hotel Emma — the exclusive Andrew Harper travel company anointed it one of the 20 grandest hotels in the world. The same month, Hotel Emma landed at No. 4 on TripAdvisor’s 2018 Travelers’ Choice Awards list of the top U.S. hotels.
The Ritz-Carlton in Dallas took the top spot. 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. The hotel also stood on the top rung of the RevPAR ladder in the second quarter of 2017.
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.