Austin hotel development boom rolls on | Austin hotel development boom rolls on | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=6097 | 2013-10-08T13:01:00Z | 2013-10-08T06:30:00Z |
AUSTIN - A tide of hotel development is sweeping the central business district that could add more than 3,200 guest rooms during the next three years, a roughly 40 percent increase over the current downtown stock of just more than 8,000.
The Austin area hotel market is among the strongest in the nation, making it a magnet for new development. In downtown alone, an occupancy rate of 78 percent explains why room rents are rising and nearly a dozen new hotels are planned or under construction.
Austin and Houston rank as the two strongest hotel markets in Texas and are among the top five in the nation. In Central Texas as a whole, the hotel occupancy rate is projected to be in the 70 percent range for the next four years.
The hotels under construction or set to begin this year total 4,043 rooms.
Austin Hotels Under Construction*
Hotel |
Address |
#
Rooms |
Scheduled
Opening |
Fairmont Austin |
East Cesar Chavez St.
and Red River St. |
1,035 |
fall 2016 |
JW Marriott |
110 E. Second St. |
1,012 |
March 2015 |
Westin Austin Downtown |
310 E. Fifth St. |
366 |
springĀ 2015 |
Sonesta |
Hill Country Galleria |
200 |
early 2015 |
*Only hotels with 200 rooms or more are listed in the aboveĀ chart.
Read more at the Austin American-Statesman.
| Austin American-Statesman
| Austin-Round Rock
| Hotel
| http://www.mystatesman.com/news/business/austin-hotel-development-boom-rolls-on/nbfbc/ | | | | Read more at {Source} |