Dallas-Fort Worth Hospitality Market Report

Development hinders occupancy in 2024, despite consistent room demand. While occupancy in Dallas-Fort Worth remains under many other major U.S. metros and below the market’s all-time high of 70.3 percent in 2016, the Metroplex ranks as one of the top markets for demand in 2024. Occupancy’s slow return to previous highs is predominantly due to an influx of supply over the last five years. Between 2019 and the end of 2024, Dallas-Fort Worth’s inventory is on pace to have grown by 7.9 percent, the fifth-highest increase among major markets. Despite supply headwinds, several major events in Dallas-Fort Worth will drive visitation and hotel demand this year, like the 2024 MLB All-Star Week at Globe Life Field in Arlington and the solar eclipse path of totality. The Omni PGA Frisco Resort was also completed in 2023, and expects to draw more visitors in its first full year of operation. Long term, construction is underway on Universal Kids Resort in Frisco, which will open in 2026, creating an additional tourism driver in the region.