Dallas/Fort Worth International Airport, Love Field Airport, Kay Bailey Hutchison Convention Center, and local employers and office headquarters, particularly within the telecommunications, technology, insurance, financial services, and healthcare fields, represent the primary sources of demand in the greater Dallas market. Over the last two decades, Dallas has evolved from a market that would typically achieve occupancies in the high 50s to low 60s into one that could reach roughly 70.0% on a steady, year-over-year basis. In 2023, occupancy returned to the upper 60s, similar to levels achieved from 2014 through 2019. ADR, on the other hand, remained well above the $120 mark in 2023, and RevPAR reached an all-time high. Factors contributing to this trend included elevated hotel supply, strong levels of high-rated leisure demand, and upward momentum in meeting/group and corporate demand. The outlook for 2024 is favorable, with further occupancy growth expected to be supported by increased vibrancy and development within the downtown area, as well as steady expansion in suburban areas. Moreover, this market is driven by a diverse base of employers and continued corporate relocations, as well as numerous projects (proposed or under development), including a new, $2-billion, 2.5-million-square-foot convention center anticipated to open in 2029.
* Although the HVI cannot tell you what a particular hotel is worth, it does provide excellent “big picture” data, indicating which market areas are experiencing positive trends, and thus may present good investment opportunities. The HVI for the U.S. is a measure of the strength of the lodging industry as a whole and, specifically, the hospitality investment market. The HVI for the various identified markets can provide a basis to evaluate and compare different geographic regions. For more insight on the limitations and applicability of the HVI, please read the message on the HVI home page by clicking on the graphic at the top of this page.
The widespread impact of the coronavirus (COVID-19) has had an unprecedented impact on hotels and hotel values worldwide.
Consequently, the latest HVI analysis may no longer reflect the most current measure of lodging industry strength or the
hospitality investment market.
In each of our offices across the globe, we are working tirelessly to analyze the impact of recent events and provide timely
insights to help you navigate these uncharted waters. Because it is unclear how long the pandemic will last or how long related
restrictions will be in place, we are updating our analyses on a weekly basis using the most current data.
Additionally, examination of value trends in prior cycles can provide useful information. Historical patterns, together with
an understanding of the market’s current expectations for the eventual recovery of the industry and its performance, can provide
insights on the likely trajectory of decline and recovery for hotel values.
For the Latest Information and Analysis on the Impact of COVID-19Click Here
If you’d like to speak to someone personally to review details of our most current analysis, please don’t hesitate to contact
us directly.
ADR, Demand, Occupancy, RevPAR, and Supply Projections:
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| ADR Change
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|
|
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| Market Demand Change
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|
|
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| Hotel Occupancy Increase/Decrease
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|
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| RevPAR Change
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0.0%
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0.0%
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0.0%
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| Market Supply Growth
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Change In Value For Market:
Legend
| Significant Value Increase:
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Greater than +10%
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| Moderate Value Increase:
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Between +3% and +10%
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| Stable Values:
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Between -3% and +3%
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| Moderate Value Decline:
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Between -3% and -10%
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| Significant Value Decline:
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More than -10%
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Dallas RevPAR
| Year |
RevPAR |
| 2008 |
$54.99
|
| 2009 |
$43.28
|
| 2010 |
$44.99
|
| 2011 |
$50.33
|
| 2012 |
$52.61
|
| 2013 |
$58.22
|
| 2014 |
$63.45
|
| 2015 |
$69.84
|
| 2016 |
$73.85
|
| 2017 |
$73.63
|
| 2018 |
$72.50
|
| 2019 |
$72.84
|
| 2020 |
$75.03
|
| 2021 |
$
|
| 2022 |
$
|
| 2023 |
$
|
| 2024 (f) |
$
|
| 2025 (f) |
$
|
| 2026 (f) |
$
|
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