BBungah
Ask a capital question
← Markets

Houston–The Woodlands–Sugar Land MSA

Ask about this

Texas / South·Destination dashboard

Hotel figures below are cited to their sources; other sources for this market are still being checked.

Hotel performance

Houston. Published figures, accessed 2026-11-04.

2025

Occupancy
59.0%
ADR
$120
RevPAR
$71

Figures printed rounded.

Houston First, Hotel Occupancy Finished 2025 at 59% ↗

Dec 2025

Occupancy
50.0%
ADR
$108
RevPAR
—

RevPAR value not printed for the month.

Houston First, Hotel Occupancy Finished 2025 at 59% ↗

Each figure is from the linked source for the period shown. Occupancy and ADR in a row always come from the same source and period. RevPAR marked 'our calculation' is occupancy × ADR from that same row; otherwise it is the source's own figure. Areas differ by market (city, CBD, county or metro) as labeled.

Rates

Tuesday Trends board

Captured Tue, Nov 3, 2026. Median cheapest refundable nightly rate, 2 adults, pre-tax, across 50 hotels. Indicative Google Hotels prices; decision support, not a quote.

Median cheapest refundable nightly rate by horizon and stay
OutWeekdayMon–ThuWeekendFri–Sun
1 wk
$264
down 2% vs last Tuesday, 39 same hotels
43/50 priced
5 no rates on Google
$194
unchanged vs last Tuesday, 47 same hotels
49/50 priced
1 mo
$199
up 18% vs last Tuesday, 49 same hotels
49/50 priced
$196
up 9% vs last Tuesday, 47 same hotels
48/50 priced
3 mo
$255
up 4% vs last Tuesday, 47 same hotels
48/50 priced
1 no rates on Google
$219
up 2% vs last Tuesday, 47 same hotels
49/50 priced
6 mo
$313
down 0.9% vs last Tuesday, 43 same hotels
45/50 priced
1 no rates on Google
$292
down 7% vs last Tuesday, 45 same hotels
45/50 priced
1 no rates on Google
~11 mo
$300
unchanged vs last Tuesday, 34 same hotels
39/50 priced
7 no rates on Google
$229
unchanged vs last Tuesday, 33 same hotels
38/50 priced
7 no rates on Google

Coverage counts hotels with a refundable rate; low-confidence prices (2 or fewer sellers and no official hotel site) are left out. Thin: under 15 of 50. Week-over-week compares the same hotels both Tuesdays (median of each hotel's change, shown when 15+ hotels compare). ● 10+ no rates on Google at 1 wk. At ~11 months, no rates largely reflect Google's ~330-day pricing limit.

Signals

28 cited
talent3 changesas of 2026-10-19

Houston talent: 3.1 Notable recent management changes

Dreamscape takes Hyatt Regency Houston West (Mar 2025); Oldham Goodwin adds Element Katy (eff.

tax5 rowsas of 2026-10-11

Houston tax & CVB: Collections and DMO budget

City HOT to Houston First (current + delinquent): $112.0M actual / $114.5M forecast / $117.0M budget · CY2024 / CY2025 / CY2026 · CY2024 /…

tax7 rowsas of 2026-10-11

Houston tax & CVB: Lodging tax stack (City of Houston)

Texas state HOT: 6% · 0.5 pt tourism, the rest to the general fund · accessed 2026-10-11

debt4 rowsas of 2026-10-11

Houston debt & deals: CMBS / SASB loans

Sheraton Houston North (416 keys): $34.4M CMBS · In SS since a 2020 default.

+2 more sources
debt4 rowsas of 2026-10-11

Houston debt & deals: Named hotel transactions 2025–2026

St. Regis Houston (to become The Houston Grand Hotel, Luxury Collection): 2026-01-13 · Saddlebrook Equity & Mgmt / Host Hotels (HST)…

+2 more sources
pipeline3 rowsas of 2026-10-11

Houston pipeline: Named projects

Holiday Inn Express + Staybridge Suites, 1319 Texas Ave. (17 stories): 275 · Opened Apr 2026 · Downtown / ballpark · Delivered

+1 more source
pipeline2 rowsas of 2026-10-11

Houston pipeline: Stage rollup

Renovation + conversion: 35 · 4,841 (#1 U.S.) UC / starts / early planning: Not in LE public top-5 lists.

supplyscore 2/5as of 2026-10-11

Houston supply-pressure score 2/5

2 / 5 (supply tailwind, demand headwind). UC intensity: Not in LE public top-5 UC; Cornovus: supply growth "limited," concentrated in CBD…

supply6 rowsas of 2026-10-11

Houston supply: Latest monthly pulse

Aug 2026: OCC 56% (flat), ADR $114 (+1.5%), RevPAR $64 (+~1%); YTD OCC ~61% flat, ADR $129 (+5.5%), RevPAR $78 (+6%), revenue +~7%

+3 more sources
supply7 rowsas of 2026-10-11

Houston supply: Submarket basemap (v0, Houston First monthly releases — Aug 2026: · Jul 2026: · Dec 2025 notes: )

). Downtown / CBD: OCC 52%, ADR $191, RevPAR $100 · OCC 53%, ADR $205, RevPAR $108 (+17%) · Dec 2025: OCC 45% on supply growth while demand…

supply4 rowsas of 2026-10-11

Houston supply: Snapshot

Metro inventory: ">100,000 rooms" (Woodlands to Texas City) · 2026

+1 more source
talent5 rowsas of 2026-10-11

Houston talent: 5. Gaps (no public read)

Local 23 full scale tables by classification / exact expiry dates: No public read (only base + steps)

Source: No linked public source (reviewed 2026-10-11) · no public read

talent1 rowsas of 2026-10-11

Houston talent: 3.2 Pre-open risk — named openings

HIE + Staybridge, 1319 Texas Ave: 275 · Opened Apr 2026 · No public read · Ramp risk only.

talent4 rowsas of 2026-10-11

Houston talent: 3. Operator bench

Frontera Hotel Group: M · Selected by SLTX Capital to manage Canopy by Hilton, Scanlan Building (405 Main; 138–140 keys; office→hotel)…

+1 more source
talent4 rowsas of 2026-10-11

Houston talent: 2. Build talent (summary)

MSA construction jobs: 254,900 → 269,000 (+14,100, +6%; #1 of 360 in absolute gain) · Aug 2025 → Aug 2026

talent4 rowsas of 2026-10-11

Houston talent: 1.1 BLS OEWS — hotel occupations (MSA)

Maids & housekeeping cleaners (all industries) (37-2012): 12900 · $14.30 · $14.72

talent6 rowsas of 2026-10-11

Houston talent: 1. Wage floor

Texas / Houston minimum wage: $7.25/hr (federal; no state or city premium) · current 2026

+2 more sources
citywide_calendarOpens May 2028as of 2025-08-22

Houston GRB South expansion opens May 2028 (+337,400 CBD group RN/yr at stabilization)

George R. Brown South expansion opens May 2028; projected +337,400 CBD group room nights a year at stabilization (2032)…

citywide_calendar2 eventsas of 2026-10-11

Houston 90-day compression calendar (Oct 12 2026 → Jan 10 2027)

2026-11-07 → 2026-11-08: Collect-A-Con Houston (GRB Hall B) [Consumer] — Confirmed (accessed 2026-10-11); next pull: Weekend only

drive4 rowsas of 2026-10-11

Houston drive + attraction demand anchors

Drive catchment: Texas Triangle via I-10 (San Antonio, Beaumont/LA), I-45 (Dallas), I-69/US-59; Gulf Coast/Galveston leisure

citywide_calendar6 rowsas of 2026-10-11

Houston group / citywide demand calendar

International Quilt Festival (GRB): Nov 12–15, 2026 (classes from Nov 10); 500+ booths; attendance no public read on the 2026 page

+2 more sources
airlift

Houston airlift / air access demand

Monthly passengers: History → Airport passengers
visitation9 rowsas of 2026-10-11

Houston visitation / demand volume

Metro visitors 2025: 90.1M (day + overnight); ~3M international

reit_exposure2,285 rooms / 2 REITsas of 2026-10-11

Houston REIT ownership (Tier 1): 2,285 rooms, 2 REITs (HST 75%)

Rooms owned: HST 1,710 (75%); APLE 575 (25%). CHH owns one Cambria (room count not disclosed).

+2 more sources
occupancyOCC 60.9% / ADR $131 / RevPAR $80as of Q2 2026

Houston Q2 2026 (C&W MarketBeat, STR/CoStar): OCC 60.9%, RevPAR $80

Cushman & Wakefield MarketBeat Q2 2026 (STR/CoStar-sourced, 3-month): OCC 60.9% (−1.7%), ADR $131 (+6.8%), RevPAR $80 (+5.0%); supply…

occupancyAug OCC 56% / YTD ~61%as of Aug 2026

Houston monthly pulse 2026 (Houston First): Aug OCC 56%, YTD ~61%

OCC 56% (flat), ADR $114 (+1.5%), RevPAR $64 (+~1%); YTD OCC ~61% flat, ADR $129 (+5.5%), RevPAR $78 (+6%), revenue +~7%.

+1 more source
eventhostas of 2026-10-11 (event Jun 11–Jul 19, 2026)

World Cup 2026 post-Cup demand read — Houston (host)

World Cup 2026 (Jun 11–Jul 19) — host market. Key numbers (lift vs hype): HVS: OCC −1.8 pt, ADR +$17.1, RevPAR +$7.85 / +22.2% off lowest…

+1 more source
taxCh.351 $111.19M @ 7% → ~$1.59B implied room baseas of FY2025

Houston local HOT FY2025 (tax / room-revenue proxy — NOT RevPAR)

City of Houston FY2025 Local HOT (Tax Code Ch.351): rate 7.0%, revenue $111,191,706.

History

Airport passengersJul 2026: 2.8M passengers, −2.8% YoY

Passengers boarding flights (enplanements), all carriers, at Houston, TX: George Bush Intercontinental/Houston (IAH) + Houston, TX: William P Hobby (HOU).

Last 13 months
MonthPassengersYoY
Jul 20262,771,053−2.8%
Jun 20262,690,791−4.3%
May 20262,611,430−2.1%
Apr 20262,374,382−0.4%
Mar 20262,533,672−0.0%
Feb 20262,096,947+1.5%
Jan 20262,216,870−0.1%
Dec 20252,672,139−1.2%
Nov 20252,389,802−3.6%
Oct 20252,590,409+0.5%
Sep 20252,305,039−0.4%
Aug 20252,513,547−1.9%
Jul 20252,849,468+3.6%
Show yearly (2015–2025)
YearPassengersYoY
202530,000,449−1.5%
202430,457,650+5.1%
202328,973,064+10.5%
202226,229,422+20.5%
202121,767,367+83.7%
202011,848,598−59.1%
201928,953,944+2.7%
201828,193,756+8.0%
201726,105,816−0.8%
201626,314,811−0.8%
201526,531,025—
Lodging jobs & wages. No yearly lodging-employment series for this market yet (BLS QCEW withholds most years).

Sources: U.S. Bureau of Transportation Statistics, T-100 via TranStats (Passengers data element) ↗, airports IAH, HOU, Jan 2015–Jul 2026, accessed 2026-11-04. BTS publishes T-100 airport data about three months after the month ends; the latest month here is the newest BTS had posted when accessed. U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages ↗, annual averages, accessed 2026-11-04; withheld years left out.

Hotel-tax collections

newest first · 5 periods
tax$111.19M (+4.6% YoY) · self-reportedas of 2025 (reporting year)

Houston city HOT, annual (Texas Comptroller) — 2025 (reporting year)

Amount: $111,191,705.50 · YoY: +4.6% (computed). Basis: self-reported; reporting year set by filer.

tax$106.33M · self-reportedas of 2024 (reporting year)

Houston city HOT, annual (Texas Comptroller) — 2024 (reporting year)

Amount: $106,334,352.00 · YoY: n/a (2023 unreliable). Basis: self-reported; reporting year set by filer.

tax$112.0M · Houston First actual (current + delinquent)as of CY2024 actual (current + delinquent)

Houston city HOT received by Houston First — CY2024 actual (current + delinquent)

Amount: $112.0M · YoY: n/a. Basis: Houston First actual (current + delinquent); calendar year.

tax$82.50M · self-reportedas of 2022 (reporting year)

Houston city HOT, annual (Texas Comptroller) — 2022 (reporting year)

Amount: $82,504,869.98 · YoY: n/a. Basis: self-reported; reporting year set by filer.

taxno public readas of 2026-10-11

Houston hotel-tax series — gaps

Houston hotel-tax series gaps (as of 2026-10-11): Monthly / quarterly: no public read.

Source: Official publishers (gap note; no public read) · no public read

Assets

none yet
No cited assets yet for this destination. Underwrite by submarket and product class — MSA averages are not a substitute for a competitive set.

Who owns here

20 REIT-owned hotels · AHT, APLE, HST, INN, RLJ, XHR
+12 more REIT-owned hotels in Houston

Recorded REIT transactions (comps)

From REIT filings; this list may be incomplete.

  • Embassy Suites Houston Near the GalleriaFeb 9, 2026 · sold by AHT · 150 rooms$13.5Mfiling ↗
  • Residence Inn Houston By The GalleriaDec 16, 2025 · sold by RLJ · 146 roomsprice not disclosedfiling ↗
  • Hilton Houston NASA Clear Lake hotelAug 22, 2025 · sold by AHT · 242 rooms$27.0Mfiling ↗
  • MarriottAug 18, 2025 · sold by APLE · 206 roomsprice not disclosedfiling ↗
SourceREIT property schedules and transaction disclosures in SEC filings sec.gov ↗All hotel REITs

Linked findings

No radar findings for this market yet.
Generate Stack memoAsk about this market