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Market study: The Woodlands could support two hotels near the convention center, consultants say
Summary
A RevPAR study presented to the township found the market could support a full-service 175–225-room hotel plus a 125–175-room select-service property near the convention center; consultants also reported lost group leads (285,000 room nights) and estimated $174 million in room revenue potentially leaving the market 2023–2025.
Visit The Woodlands and consultant RevPAR gave township directors a market analysis on Jan. 22 that concluded the local lodging market is strong and has room for two additional hotels near the convention center.
Consultant Chris (RevPAR) summarized the study’s core findings: the municipality has roughly 2,300 hotel rooms in-market, seasonal occupancy often exceeds 70% on many days, and between 2023–2025 Visit The Woodlands tracked approximately 650 lost group leads that equated to 285,000 room nights and an estimated $174,000,000 in rooms revenue that could not be accommodated. The analysis found a mix of full-service and select-service supply on the periphery of the market but a relative shortage of hotel keys immediately proximate to the convention center.
Based on fill-night and leakage analyses, consultants recommended two proximate hotels: one 175–225 room full-service (upper-upscale) hotel with some on-site meeting space, and a second 125–175 room upper-upscale select-service property to capture overflow and moderate-price demand. The presentation included development-cost estimates per key for luxury and select-service product types and modeled potential tax-revenue impacts from new rooms.
Board members questioned market timing, potential developer interest (including prior Brookfield proposals), and transportation and pedestrian connectivity for a convention-area hub. Staff emphasized the presentation is data for planning and recruitment of developers rather than immediate approvals.
Directors accepted the study and asked staff to coordinate next steps with hoteliers and potential development partners.
