Quote:
Originally Posted by ATX2030
This project more than likely is a casualty of the work from home phenomena which killed a large portion of business travel.
Q3 has been pretty much the consensus of when the recession will be officially recognized.
|
Just throwing this out there. Business travel is actually on a long slow upswing, and has improved by head and shoulders since the pandemic. Similarly, demand for luxury hotel rooms is still at an all time high. The Conrad portion of this tower was always going to do well, IMO.. especially being next door to a soon to be rebuilt convention center.
I guess I would be very surprised if it’s the hotel portion that ends up sinking this project. I’d be more inclined to blame high interest rates, raw material and labor costs, changing lending environment, etc. at least until we hear more.