McKinney's hotel supply is about to grow. Four hotels with a combined 535 rooms are under construction in the city, and two of them are expected to be finished in November, according to the monthly report Visit McKinney staff prepared for the tourism board's Oct. 27 meeting.
The report lists the projects this way:
- AC Marriott: 137 rooms, estimated completion November 2026
- La Quinta and Hawthorn Suites (one dual-brand building): 103 rooms, estimated completion November 2026
- Avid Hotel: 95 rooms, estimated completion January 2027
- Cannon Beach Resort Hotel: 200 rooms, completion date listed as to be determined
Room rates up, occupancy slightly down
The new rooms will open into a market where travelers are paying more but filling slightly fewer rooms. Industry data from STR/CoStar in the report covers January through August. McKinney hotels averaged 70.41% occupancy over that stretch, compared with 71.43% a year earlier.
The average nightly rate climbed 3.41% to $103.59, and revenue per available room, a measure that combines the two, rose 1.94% to $72.94.
The city's hotel occupancy tax, which funds tourism promotion, is running ahead of last year. August brought in $358,644, an 18.53% jump over the $302,578 collected a year earlier. From October through August, collections totaled $3,397,339, up 11.31%, or $345,107. The report notes that both the industry figures and the tax data arrive about two months after the fact.
