Austin hotel development boom rolls onAustin hotel development boom rolls onhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=60972013-10-08T13:01:00Z2013-10-08T06:30:00Z

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*
Address #
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
http://www.mystatesman.com/news/business/austin-hotel-development-boom-rolls-on/nbfbc/Read more at {Source}

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