Midtier class hotels lead construction activity in Texas

In the past 10 years, midtier hotels have led hotel construction in Texas. Over a 10-year period, the number of midtier hotel rooms, categorized as upper and upper midscale, increased by 42%. Upper-tier rooms, classified as luxury and upper upscale, increased by 31%, while lower-tier rooms, classified as midscale and economy classes, increased by 2%. Over 2,000 rooms closed or were converted into multifamily between 2020 and December 2023.