HOUSTON — It's official: The massive Offshore Technology Conference has been canceled for 2020.

The OTC drew 59,200 attendees in 2019 and is one of Houston's biggest conventions and a huge moneymaker. 

The cancellation is another huge hit for Houston's hospitality industry, including hotels and restaurants.

Organizers had hoped to postpone the event from its usual dates in early May until August or September. But as concerns about the COVID-19 coronavirus pandemic continue to grow, the OTC's board of directors decided canceling the 2020 event completely was the most feasible and responsible decision.

"As we navigate these difficult and uncertain times, it is with a heavy heart that the OTC Board of Directors has determined that it is in our best interest to cancel OTC 2020," OTC Chairperson Cindy Yeilding said in an April 2 press release. "Our priority is the health and safety of our attendees and exhibitors, and we have taken federal, state and local guidelines into account in making our decision."