The Property benefits from very good visibility on the Galveston Seawall, near numerous dining, retail, and entertainment options, which is a positive attribute for both business and transient guests. Guests can easily walk across the street to access the many beaches along Seawall Boulevard.
Corporate demand generators in the area include the University of Texas Medical Branch (UTMB), Galveston College, Texas A&M University, Landry’s, Moody Gardens, Moody Bank, ANICO, Mitchell Family Companies, Marathon Petroleum, and Valero.
Leisure demand generators in the area include Moody Gardens, Schlitterbahn Water Park & Resort, Pleasure Pier, 61st Street Fishing Pier, Galveston Island Convention Center, and the historic Downtown Galveston.
The Port of Galveston is ranked fourth out of the busiest cruise ports in North America. In 2019, the cruise-ship industry had a record year; over one million passengers traveled through the Port, generating an economic impact of $2.1 billion. Although 2020 was a challenging year due to the pandemic, the cruise-ship industry is expected to recover, as evidenced by Disney Cruise Line recently executing a ten-year agreement to double its departures from Galveston, and Royal Caribbean scheduling to break ground on a new, $100-million terminal in 2021.