The 'inn' crowd: Austin braces for hotel multiplicityThe 'inn' crowd: Austin braces for hotel multiplicityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=20722015-01-06T08:52:00Z2015-01-06T00:00:00Z

AUSTIN - Austin's inn crowd is very inclusive. Hotel options abound and are about to multiply — from contemporary Zen-like havens in the midst of downtown to soaring skyscrapers with floor-to-ceiling views of the city.

Prices run the gamut, too. Austin's average daily room rate across the city has been escalating rapidly and edging up to the $200 mark — but some unembellished but new rooms are closing in on the $800-per-night mark.

Some 8,649 rooms are in the development pipeline within the metro area, adding what would be a significant 28 percent increase of the current supply of 31,316 rooms, according to Lodging Econometrics, a hotel research company.

Austin is in the top ten markets for new hotel construction though markets with much larger population bases — New York and Houston, for example — lead the pack.

The Central Business District will post the most significant increase of rooms.

Downtown room supply could grow by more than 55 percent in the next few years — from about 8,600 rooms to more than 13,000.

tags: Austin hotel, Austin hotel data

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/print-edition/2015/01/02/the-inn-crowd-if-you-re-in-the-hotel-business.htmlRead more at {Source}

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