Economy | News | Real Estate

Austin Hotel and Hospitality Industry Boom


Read time: < 1 minute

2009 was a slow year for the Austin hotel industry, so slow, in fact, that it set in motion a City Agenda to focus on fixing it. When hotel occupancy hit an all-time six-year low in 2009 (dropping from 67.4% to 61.1%) along with hotel pricing (average room rates fell from $112.80 to $104.49) Austin City Council convened to start plans to reverse this downward trend. The agenda included the addition of one large hotel in Downtown Austin, just as large as the 800-room Hilton Austin.

Zoning for a new hotel was approved in March. Plans call to keep original building façade in tact by building on top of an existing bar, Sky Lounge. While the hotel only has 130 rooms and limited parking, City Council Members agree that it is one step closer to helping the hotel industry support Austin’s tourism and business industries.

Read more about Austin’s latest hotel development here.

Leave a Comment

Related Posts

None found

INSTAGRAM

Are you looking for the most up-to-date and easy-to-use home search website in Austin? You’re in the right place! Explore RealtyAustin.com, Austin’s #1 home search website. Check out the full home search video on IGTV or use the #RAlinkinbio. Find your next home today! 🏘️ 💻 📱 #realtyaustin #makethemove #austinrealestate⁠⠀ ...

@foundationcommunities is on a mission to end the affordable housing crisis that many Austin residents face, now more than ever. Realty Austin, Co-Owner, @yvetteboatwright sits down with Foundation Communities CEO, Walter Moreau to discuss the program's community initiatives to provide safe affordable housing while enhancing the quality of life for the community members in need. Get involved and watch the full interview using the #RAlinkinbio ❤️ 🏡 #ouraustinpledge #realtyaustin #foundationcommunnities #affordablehousing ...

Realty Austin is honored to be ranked #3 on the Austin American-Statesman‘s 2020 @topworkplaces of Greater Austin list! 🏆🎉 Rated in areas of leadership, ethics, values, and treatment of employees, we are proud to be on this list for the ninth year in a row. Check out the #RALinkInBio to learn more about why Realty Austin is consistently voted a Top Workplace! #topworkplaces #realtyaustin #realtyawesome ...

The world premiere of the 9th Annual Realty Austin Habitat for Humanity music video is live on Youtube now! 🎸🎵🏠 Our rockstar agents work hard every day for their clients and the community and have fun while doing it. We are so grateful to have the opportunity to volunteer alongside @atxhabitat to build our 9th home for a deserving local family! Check out the #LinkInBio to view the premiere of “Don’t Stop Us Now” and subscribe to see more #realtyawesome content!  #OurAustinPledge #RealtyAustin #RealtyAwesome #AustinTexas #HabitatForHumanity #AustinHabitatforHumanity #MusicVideo #DontStopUsNow ...

Pin It on Pinterest