Economy | News | Real Estate

Austin Hotel and Hospitality Industry Boom

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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.

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