Marfa, Texas hotel market

Presidio County · Measured room revenue from state hotel occupancy tax filings, through May 2026.

$6.5M
Room revenue, trailing 12 months
-8.6%
vs prior 12 months
$98
Market RevPAR, TTM*
9
Hotels filing room tax
182
Registry rooms
+4
Rooms added YoY
40.2%
Short-term-rental share
Demand momentumDecliningSupply pressureRisingDemand durabilityStableSTR spilloverHighData confidenceMedium-high

Quarterly hotel room revenue

state filings
$1.0M$2.0M2017 Q1: $1,695,67320172017 Q2: $1,856,1102017 Q3: $1,638,5202017 Q4: $1,798,0732018 Q1: $1,619,96320182018 Q2: $1,965,7332018 Q3: $1,632,4682018 Q4: $1,948,2872019 Q1: $1,883,49920192019 Q2: $2,069,7242019 Q3: $1,746,8362019 Q4: $1,855,3262020 Q1: $1,482,06820202020 Q2: $709,9932020 Q3: $1,501,7912020 Q4: $2,052,2992021 Q1: $1,681,39520212021 Q2: $2,135,3052021 Q3: $1,957,5472021 Q4: $2,337,2222022 Q1: $2,016,29820222022 Q2: $2,259,6552022 Q3: $1,754,6232022 Q4: $2,167,0832023 Q1: $1,873,39220232023 Q2: $1,921,4912023 Q3: $1,620,6332023 Q4: $2,020,8292024 Q1: $1,738,95720242024 Q2: $2,065,8372024 Q3: $1,398,6822024 Q4: $2,180,9632025 Q1: $1,664,90520252025 Q2: $1,852,3192025 Q3: $1,324,3632025 Q4: $1,956,9802026 Q1: $1,569,9802026$1.6M

Room receipts reported by Marfa hotels to the Texas Comptroller, summed by calendar quarter so monthly and quarterly filers land in the same buckets. Short-term rentals are excluded and measured separately. *Market RevPAR divides trailing revenue by registry rooms x 365; registry capacity can lag renovations.

Short-term-rental share

measured
20%40%2017: 20.9% STR share'172018: 27.2% STR share2019: 29.1% STR share'192020: 33.9% STR share2021: 34.4% STR share'212022: 35.3% STR share2023: 36.4% STR share'232024: 35.9% STR share2025: 38.6% STR share'252026: 42.9% STR share (5 months)42.9%

STR share of all measured lodging revenue: platform remittances (Airbnb, Vrbo, Vacasa) plus individually permitted hosts and rental managers. Open dots are partial years.

Hotels in Marfa

10 filing locations
10 hotelsCombined TTM $6.5MMedian $/key $31kMedian YoY +6.4%
HotelBrand familyRoomsFY2025 revenueTTM revenue$/keyYoY
Hotel Saint GeorgeIndependent55$2.4M$2.4M$44k-2.0%Screen
The Hotel PaisanoIndependent42$2.0M$2.0M$48k+5.7%Screen
Thunderbird Hotel, Marfa, Tx 79843Independent24$653k$666k$28k+9.4%Screen
Riata InnIndependent20$598k$626k$31k+47.5%Screen
The 105 LincolnIndependent11$356k$344k$31k-6.0%Screen
Chinati Hot SpringsIndependent5$200k$196k$39k+7.2%Screen
El CosmicoIndependent16$507k (7mo)$75k (2mo)Screen
Marfa House · quarterly filerIndependent11$62k$64k$6kScreen
Pik Paknew · quarterly filerIndependent7$21k (6mo)$37k (9mo)Screen
Bohemio Marfanew · quarterly filerIndependent7$26k (9mo)$26k$4kScreen

Every hotel and motel filing state room tax in Marfa, ranked by trailing-12-month reported receipts. Brand and tier are read from the filing name; $/key divides TTM revenue by registry rooms. Quarterly filers report at quarter granularity, so their trailing windows can lag by up to two months.

Supply pipeline

measured + verified reports
Registry rooms 182Added YoY +4New filing locations 2
Began filingPik Pak · 7 keys · first filings within the trailing year
Began filingBohemio Marfa · 7 keys · first filings within the trailing year

Measured entries come from state tax registrations (a hotel appears when it starts filing room tax). Named pipeline entries are individually verified against reporting or the TDLR construction registry; room counts are never estimated.

Hotels vs short-term rentals

measured · state filings
YearHotel revenueSTR revenueSTR share
2026 (5mo)$2.7M$2.1M42.9%
2025$6.8M$4.3M38.6%
2024$7.4M$4.1M35.9%
2023$7.4M$4.3M36.4%
2022$8.2M$4.5M35.3%
2021$8.1M$4.2M34.4%
2020$5.7M$2.9M33.9%
2019$7.6M$3.1M29.1%
2018$7.2M$2.7M27.2%
2017$7.0M$1.8M20.9%

Short-term-rental revenue combines platform remittances (Airbnb, Vrbo and similar file one aggregate per city) and individually permitted hosts and rental managers. Revenue is measured; listing counts are not derivable from tax filings.

Presidio County context

Census ACS + CBP
Population (2023)6,043 · -20.3% since 2013
Median household income$29,014 · was $29,634 in 2013
Median age42
Accommodation and food services256 employed · 28 establishments
Health care and social assistance64 employed · 8 establishments
Administrative and support and waste management and remediation services55 employed · 5 establishments
Arts, entertainment, and recreation55 employed · 5 establishments

American Community Survey 5-year estimates and County Business Patterns, county level. Employment counts are private-sector payroll establishments.

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Methodology. Measured from TX Comptroller hotel occupancy tax filings. Corporate housing operators, condo/HOA rental regimes, RV parks, and vacation-rental managers are classified out of the hotel universe by name; hand corrections via override_class win over the computed class. Self-reported and unaudited; amended filings restate history. Registry room capacity can lag renovations. Growth figures need full 12-month coverage in both years; partial-coverage locations show revenue but no growth rate. Quarterly filers are included at quarter granularity: their trailing windows can lag monthly filers by up to two months. Market growth rates substitute a typical month for detector-flagged single-month filing anomalies (amended filings lumped into one month); raw revenue totals stay as filed. Registry room counts that are impossible for the building (a re-registered permit filing 18,872 units against 188) fall back to the last plausible count filed at the same address, or are withheld from room totals when no such filing exists. Room and hotel counts are per building: when a hotel changes filing entities, its co-located registrations count once, at the most recently seen plausible room count, while revenue sums across every filer. Platform rows are city-level aggregates remitted by booking platforms (Airbnb, Vrbo/HomeAway, and similar) under marketplace agreements; they carry real revenue but placeholder unit counts, so listing counts are NOT derivable from this data. Individual-filer figures capture hosts with their own tax permits plus vacation-rental managers and condo rental programs classified by name (one manager can file many locations under one permit); corporate housing operators and RV parks are excluded from both sides. A host who files individually may also have some bookings remitted by a platform, so minor double counting is possible. The small-property heuristic (<=4 units) can misclassify tiny B&Bs or motels. All figures are self-reported, unaudited, and restated by amended filings. Figures are our interpretation of public state records and are not a valuation or investment advice.

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