Quote:
Originally Posted by WestAustinite
Hard to imagine anyone financing a new building with a significant number of hotel rooms, even if they don't deliver for 2+ more years. ZaZa just delivered, as did Proper. That hotel at 9th and Congress is going up, and Canopy on West 6th will soon (albeit small).
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I completely agree with you. I like the idea of banks tightening up lending in some sectors, this could allow those markets to recover before adding supply.
Thinking of what the future holds for us here is one of my favorite ways to kill boredom.
For hotels, I hold out hope for "induced demand" so to speak. I can imagine hotels in Austin reducing rates so low, that the bravest among us will happily fill up the rooms.
I know if hotels like Zaza or Proper had screaming deals, me and the ole lady would gladly pop in for a staycation. Back in 2010, we did the same thing at the W......during Splash Weekend no less. Till you've shared a pool (shoulder to shoulder) with at least a hundred speedo clad men of all ages, you haven't lived. 10/10 highly recommended.
Happy Sunday y'all....we are headed out to the park....I hear Rona hates sunshine.
Cheers.
PS, I really proud of this forum, our developers, our construction workers, our town, our spirit. I've never appreciated living here more than now. Thank you all for your contributions...even that dude from Tulsa.