Hotel assets continued to appreciate in 2016, but at a more modest pace due to slowing RevPAR growth and a rise in cap rates. The stock market rally following the election has led to cautious optimism about what 2017 will bring.
Job growth in the Austin-Round Rock MSA, especially with respect to highly skilled, highly educated positions, ranks among the best in the nation.
Underpinned by emblems of education, government, business, music, and history, Austin’s economy ranks among the best in the nation. New full-service hotels should lead to more convention demand, with hotel performance growth expected market-wide.
Residents and visitors have always been drawn to Austin’s rich, historic offering of music, culture, business, government, and education. The strength of Austin’s lodging industry over the past decade gives hoteliers something else to admire.
As both the capital of Texas and the “Live Music Capital of the World,” Austin has businesses and hotels singing a lively tune despite the current economic dirge.
Texas’ second-largest city is experiencing growth never before seen in its long and storied history.