The past year was supposed to be a stress test for the Dallas hotel market, and by most measures, it was. The Kay Bailey Hutchison Convention Center, the city's primary engine for group demand, began a phased shutdown in the summer of 2025 for redevelopment work. The fear was that group business would crater once the convention center was out of a market that depended on it.

That's not what happened.

Group occupancy did soften...