The Eagle Publishes Article on February's Economic Indicators
Mar 02, 2020
The economy in College Station-Bryan declined slightly in December 2019 according to the February issue of Economic Indicators, which was featured in The Eagle newspaper. In the article, which was published on Monday, March 2, 2020, PERC’s Director Dennis Jansen and Executive Associate Director Andrew Rettenmaier spoke on the causes of the decline.
Although higher than the previous year’s numbers, both nonfarm employment and taxable sales decreased in December by 0.2% and 1%, respectively.
“In the broader picture, sales were up for the year. I guess the issue is whether it’s a one-month decline in sales and in the next month or two, sales will be back on their upward trajectory or not,” Jansen said.
The focus section this month provided information about hotels’ monthly revenues, as well as the number of rooms and average monthly revenues per room in in College Station-Bryan.
The number of hotel rooms in Brazos County have increased from just over 3,400 hotel rooms in January of 2010 to 6,191 rooms in December of 2019. Total annual hotel receipts through December of 2019 were $114.1 million, 0.2% higher than the total receipts for 2018.
“We’ve had a bit of a flattening over the last year in revenues,” Rettenmaier said. He noted that while the number of hotel rooms stayed close to constant from 2012 to the end of 2014, total annual revenue in the time frame jumped from $63.4 million in 2012 to $97 million in 2014. Football season revenue accounted for approximately 29% of annual hotel revenue.
To read the article in The Eagle, click here.
Click here to read the February issue of Economic Indicators, the monthly publication produced by PERC.