Home > News

State of Downtown report captures steady growth in 2018

Posted May 2, 2019

the front of the hotel
Hampton Inn & Suites, with 245 rooms, is among the increasing hotel inventory in downtown Fort Worth.

Downtown Fort Worth has maintained a 97 percent retail occupancy rate and recorded hotel occupancy well above the national average. That’s according to the just-released 2018 State of Downtown report, an annual publication that offers in-depth analysis of downtown’s primary real estate performance indicators and economic, social and education data.

“Downtown Fort Worth continued its outstanding momentum in 2018. Office rental and occupancy rates compare favorably with other North Texas Submarkets while hospitality measures were among the strongest in the country. Retail remained strong and residential sales and leasing activity reached new highs,” said Downtown Fort Worth Inc. researcher Arrie Mitchell.

According to data from the report, downtown hotel occupancy averaged 73.8 percent, with $121.81 revenue per available room. Downtown hotels paid 32.9 percent of Fort Worth’s hotel occupancy taxes in 2018.

Strong occupancy and revenue led to growth in the hospitality market, with 949 rooms under construction or planned.

Findings from the report also indicate a growing demand for downtown living. The downtown residential inventory is growing dramatically. In 2018, 1,078 new units were completed, with an additional 329 units under construction. The new builds will result in a 16.3 percent increase in the number of downtown units.

Retail continues to strengthen with a 97.1 percent occupancy rate. Spending by downtown residents in downtown totaled more than $58 million.

The State of Downtown is produced by Downtown Fort Worth Inc. and Fort Worth Public Improvement Districts No. 1 and No. 14 to help communicate the underlying economic trends shaping the center city.

Get articles like this in your inbox weekly. Subscribe to City News

City News

Calendar

Shaping Your Policy and Company Culture with Employee Handbooks: 11:30 a.m. May 28, 2019; James Guinn Entrepreneurial Campus, 1150 South Freeway.
Register for this event »

Operations Committee Meeting: 12:40 p.m. May 28, 2019; DFW Airport Headquarters Building, Board Room, 2400 Aviation Drive.
View the agenda »

City Council Called Special Meeting: 1 p.m. May 28, 2019; City Council Chamber, City Hall, 200 Texas St.
View the agenda »

Finance/Audit Committee Meeting: 1 p.m. May 28, 2019; DFW Airport Headquarters Building, Board Room, 2400 Aviation Drive.
View the agenda »

Concessions/Commercial Development Committee Meeting: 1:10 p.m. May 28, 2019; DFW Airport Headquarters Building, Board Room, 2400 Aviation Drive.
View the agenda »

Executive Compensation Committee Meeting: 1:20 p.m. May 28, 2019; DFW Airport Headquarters Building, Board Room, 2400 Aviation Drive.
View the agenda »

Canceled City Council Work Session : 3 p.m. May 28, 2019; City Council Conference Room 290, Second Floor, City Hall, 200 Texas Street.

Civil Service Commission Meeting: 6 p.m. May 28, 2019; Bob Bolen Public Safety Complex, Auditorium, 505 W. Felix St.
View the agenda »

Your Historic and Replacement Windows Workshop: 6 p.m. May 28, 2019; Hazel Harvey Peace Center for Neighborhoods, 818 Misouri Ave.

Canceled City Council Meeting: 7 p.m. May 28, 2019; City Council Chambers, Second Floor, City Hall, 200 Texas Street.

Fort Worth Sports Authority Board Meeting: 2 p.m. May 29, 2019; Fort Worth Convention Center, Executive Board Room, 1201 Houston Street.
View the agenda »

Carroll Street Intersections Project Meeting: 6 p.m. May 29, 2019; University of North Texas Health Science Center, Carl E. Everett Education & Administration Building, Room 506, 3500 Camp Bowie Boulevard.

Dallas Fort Worth International Airport Board Meeting: 8:30 a.m. May 30, 2019; DFW Airport Headquarters Building, Board Room, 2400 Aviation Drive.
View the agenda »

South Hills Street Maintenance Project Meeting: 6 p.m. May 30, 2019; South Hills Christian Church, 3200 Bilglade Road.

Deferred Compensation Committee Meeting: 9 a.m. May 31, 2019; Fort Worth Credit Union Board Room, 2309 Montgomery St.
View the agenda »

View the full city calendar and current meetings.