Diverse Drivers Will Help Austin's Hospitality Market Get Back in the Saddle
The pandemic triggered an unprecedented disruption to the hospitality industry in Austin, Texas, though the city is better positioned for recovery than others. Austin, with its high population growth, attractive business environment, and booming travel demand prepandemic, was among the hardest-hit cities in the beginning. According to STR, occupancy for hotels in Austin’s central business district dropped to a low of 3.1% on April 4, 2020. Room bookings plummeted to 6% on April 11, 2020, down from 99% the year prior.
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