As Travel Picks Up, Hotels Gain Allure for Investors | nytimes.com
Skittish developers have delayed new hotels across much of the country until the economy returns to health, and financing does, too. But in Austin, developers aren’t that wary. A $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 on a full block near the Capitol. Developers broke ground on a Westin over the summer and a $350 million Fairmont will be going up a few blocks away.
