With Waco’s explosive tourism growth for the past three years, and high hotel occupancy rate, developers have stepped forward to build an abundance of new hotels. The destination as a whole generated 2.6 million visitors in 2018, as measured through attendance figures at major attractions.
Waco’s hotel occupancy continues to exceed nearly every other city in Texas. Waco had the highest hotel occupancy of all Texas Metropolitan Statistical Areas (MSAs) in 2018, per Source Strategies, Inc.
Here is a recap of area hotels in the works:
Hotels opened in late 2018
Totaling 212 rooms, these hotels opened in late 2018.
- Hilton Garden Inn – 111 rooms
- La Quinta Del Sol – 101 rooms
Hotels Under Construction
There are six hotels in the market that are actively under construction. These total 654 rooms.
- Hyatt Place – 125 rooms – Opening expected as soon as October, 2019. Located on Bagby Ave. near Cottonwood Creek Golf Course.
- Towneplace Suites Lacy Lakeview – 85 rooms – near completion. Located at I-35 and Loop 340 North, next to Atwood’s.
- Aloft – 117 rooms – nearing completion. At 900 S. 11th St.
- Springhill Suites – 125 rooms – under construction at I-35 and University Parks Drive
- Residence Inn – 104 rooms, wood framing up. Located at Central Texas Marketplace.
- TRU by Hilton – 98 rooms – slab poured, and plumbing in. Located at Central Texas Marketplace.
These projects have been announced and covered in the Waco media. Seven hotels totaling 841 rooms.
- Cambria Suites – 132 rooms (Near Bridge St. & Martin Luther King, Jr. Blvd.)
- EVEN hotel – 128 rooms (Near Bridge St. & Martin Luther King, Jr. Blvd.)
- Holiday Inn Express – 101 rooms (Near Bridge St. & Martin Luther King, Jr. Blvd.)
- Element Hotel by Westin – 105 rooms (on the Circle)
- Embassy Suites – 168 rooms (former Downtown 301 space)
- Staybridge Suites Woodway – 97 rooms (on Hwy. 84 near Jewel Cinema)
- Hyatt Place Downtown Waco – 110 rooms (near Embassy Suites)
Summary of Waco’s Hotel Market
Starting Hotel Supply: 3,711
Plus Hilton Garden Inn & La Quinta: 212
Plus 6 hotels under construction: 654
Plus 7 announced new hotels: 841
Expected ending total room supply in the market: 5,418
Increase including hotels opened in 2018: 15 hotels with 1,625 rooms, or 44%
Increase NOT including hotels opened in 2018: 13 hotels with 1,495 rooms, or 38%