[AUSTIN, Texas] Skittish developers have delayed new hotels across much of the United States until the economy returns to health, and financing does too. But in Austin, developers aren't that wary.
A US$300 million JW Marriott hotel, the biggest JW Marriott in the country and the city's biggest hotel at 1.2 million square feet, is under construction near the Capitol. Developers broke ground on a Westin over the summer and a US$350 million Fairmont will be going up a few blocks away.
Eight hotels containing almost 4,000 rooms are scheduled to open across Austin within the next three years, making the Texas capital one of the most active markets in the US for new hotel construction.