Vacation rentals in Galveston County, Texas have had an exceptionally strong summer; revenue per available unit (RevPAR) was at least $20 higher than last year from June through September. These increases have been large enough for annual RevPAR to exceed 2019, despite low March and April numbers. The 2020 peak season was forecasted to last longer than last year, with September RevPAR $25 higher than 2019. This was caused by a much higher average daily rate and a slightly higher paid occupancy rate. Fortunately, Galveston County should have minimal, if any, long term impacts from Hurricane Laura as evacuation orders were lifted as early as Thursday morning. Our thoughts and prayers are with those in the impacted areas.
August 27, 2020