Economists are optimistic about the economic future of Bryan and College Station, Texas, as indicated by a new report that presents record-breaking figures. The 2023 Economic Indicators report reveals that hotel revenue in the area has not only recovered from the impacts of COVID-19 but has also exceeded pre-pandemic levels.
Dennis Jansen, Director of the A&M Private Enterprise Research Center, stated that the growth in hotel receipts is a sign that the recovery phase from the pandemic is over and the area is now experiencing economic growth. He emphasized that high hotel revenues and expansion are indicators of a thriving local economy.
Jansen noted that the number of hotel beds has remained fairly constant over the past five years. However, with the completion of renovations and the construction of new hotels, this could change in the 2024 report. He suggested that this would increase competition among existing hotels, but would also provide more options for customers.
Despite a dip in revenue towards the end of 2023, Jansen expects it to rise again. He explained that hotel receipts typically decrease when the University is closed, particularly during winter break and summer. However, they are expected to increase in the spring and peak in the fall.
Source: kbtx.com