October 21, 2021
Economy

Waco economy benefiting from regional operations, hotel bookings | Local Business News

Collins said stimulus checks prevented spending from tanking last year.

Spending to stay in local hotels has surged off the charts, increasing by 171% in August compared to a year ago, the fifth straight month of triple-digit improvement over last year. So far this year, spending on lodging totals $46 million, double last year’s $23 million at this point. The hotel occupancy rate resides at 75.6%, second-highest in Texas, Waco Mayor Dillon Meek said during a meeting Thursday.

Vehicle sales hit almost $554 million through August, a 15% year-over-year increase. Ingham said he adjusted for inflation in his calculation.

Most sectors enjoyed sterling performances in August, the only clunkers manifesting themselves in the housing sector for a change. Permits to erect single-family homes suggest local builders booked a late-summer junket, falling from 153 in August last year to 59 in August…

Read full article here: wacotrib.com