Houston hotel market, worst in U.S., faces pain from Harvey

The outside analysis flies in the face of. prevented the worst flood in Houston’s recorded history either, mayor sylvester turner said on Twitter. Houston’s lack of zoning regularly makes headlines.

The challenges for Houston’s hotel industry are tied to depressed oil prices. The fourth-largest city in the U.S., Houston is also the nation’s energy capital. Occupancy and room rates in the city have been depressed for three years, according to Bloomberg.

Houston’s hotel market, already the worst-performing in the U.S., is poised to take a further beating from Hurricane Harvey as the natural disaster creates chaos in a city that’s been reeling from low oil prices for the past three years.

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Houston’s hotel market, already the worst-performing in the U.S., is poised to take a further beating from Hurricane Harvey as the natural disaster creates chaos in a city that’s been reeling.

U.S. MarketFlash | Houston CRE Market Shows Resilience in Face of Hurricane Harvey. Moody’s Analytics estimates a loss of 6% to 8% of industrial value, or $2.6 billion, based on analysis and comparison to similar occurrences. The damage likely is greater within older properties and those located near Houston’s bayous.

Houston’s Poorest Face Long, Uncertain Post-Harvey Recovery. running up a tab of $190 billion in losses – the costliest storm in U.S. history.. she finds every day a struggle in one of.

Demand for hotel rooms in Houston and nearby cities is expected to surge in coming months, as displaced families seek temporary housing and a cadre of relief workers, insurance adjusters and.

Houston may be the worst example, a textbook case in unregulated zoning and. As Houston grew, officials ignored ‘once-in-a-lifetime’ chance to spare thousands from flooding Hurricane Harvey erased.

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U.S. fracking continues to soar, and some point the clash between U.S. production and Russian/Saudi market share must come to a head again. Without any guarantees on the price of oil, Figure 19 sets up three scenarios for forecasting oil prices and the Houston economic outlook.

Hurricane Harvey is expected to be one of the costliest storms in U.S. history in terms of economic losses. Massive flooding caused by Harvey along Texas’ refinery-rich coast could have long.