[2022] Planned Luxury Hotel Construction in Austin, Texas
Over $3.5 billion is in the pipeline for planned luxury hotel construction in Austin, Texas.
Although we’re focusing here on luxury hotel construction, it should be said that Austin leads the country more generally in planned hotel construction. Even so, Austin’s most popular variety of planned hotel project is luxury, which surely says something about the kind of residents and visitors Austin is looking to attract. Plus, we’ve written previously about Austin’s booming retail scene, and it makes sense that other industries would follow suit.
While a national glance tells us that luxury projects account for just about five percent of all planned hotel construction with designated scales, that number rises to a third when you zoom in on Austin.
Austin isn’t alone, however, when it comes hot markets for hotel projects in general. Take a look at the Geospex heatmap below. While Austin’s hotspot is as bright as any other, it’s clear that a full pipeline of planned hotel construction is hardly uncommon at the moment.
The above Geospex heatmap displays over $18 billion in planned and current hotel construction projects.
Now that you’ve seen the numbers behind both Austin’s and the U.S.’s whopping planned hotel construction pipelines, we can dig into Austin’s most notable planned luxury hotel projects.
Top Projects: Planned Luxury Hotel Construction in Austin, Texas
The planned and current Austin-based luxury hotel projects listed below are sorted by estimated project value. The list includes projects of varying stages, construction types, square footage, and value. All project data is courtesy of HotelMarketData.
80 Red River Tower
Rendering of the 80 Red River Tower project. (Credit: Skidmore, Owings & Merrill)
| Construction Type: | New | Chain: | Unknown – Luxury |
| Estimated Value: | $540 million | Franchise: | Unknown |
| Rooms: | 250 | Scale: | Luxury |
| Location: | Austin, TX 78701. 80 Red River St |
| Ancillary Facilities: | Food Service |
| Details: | Plans call for the construction of a 64-story mixed-use tower with a 550-space parking garage, 10,000 square feet of retail space, a rooftop restaurant, 30,000 square feet of meeting/banquet space, 250 luxury hotel rooms, 150 condominiums and 170 apartments. |
| Stage: | Planning (Active) |
CitizenM Hotel
Rendering of the CitizenM Hotel project in Austin. (Credit: CitizenM)
| Construction Type: | New | Chain: | CitizenM Hotels |
| Estimated Value: | $25-$100 million | Franchise: | CitizenM Hotels |
| Rooms: | 332 | Scale: | Luxury |
| Location: | Austin, TX 78701. 617 Colorado St |
| Ancillary Facilities: | Food Service, Pool, Gym |
| Details: | Plans call for construction of a 132,655-square-foot, 17-story hotel with 332 rooms, a fitness center, rooftop pool and bar, a restaurant, lounge, and outdoor terrace on the second floor. |
| Stage: | Early Construction |
| Construction Start: | 12/2021 |
| Construction End: | Q4/2023 |
Waterloo Hotel
The Waterloo Hotel project. (Credit: Boka Powell)
| Construction Type: | New | Chain: | Unknown – Luxury |
| Estimated Value: | $93 million | Franchise: | Unknown |
| Rooms: | 397 | Scale: | Luxury |
| Location: | Austin, TX 78701. 1201 Red River Street |
| Ancillary Facilities: | Food Service, Retail, Pool |
| Details: | Plans call for construction of a 27-story hotel tower with 379 rooms. The hotel will have a parking structure, a rooftop lounge, swimming pool, and a restaurant as well as 23,676 square feet of meeting space. |
| Stage: | Starts in 4-12 months |
| Construction Start: | Q3/2022 |
| Construction End: | Q3/2023 |
Hotel Granduca Austin Renovation & Rebranding
Credit: Hotel Granduca Austin
| Construction Type: | Renovation, Reflagging | Chain: | Independent – Luxury |
| Estimated Value: | < $1 million | Franchise: | Independent |
| Rooms: | 194 | Scale: | Luxury |
| Location: | Austin, TX 78746. 320 S Capital of Texas Hwy |
| Details: | Plans call for the renovation and rebranding of the 194-room Hotel Granduca Austin as a part of the luxury Meritage Collection of hotels. |
| Stage: | Starts in 1-3 months |
| Construction Start: | Q2/2022 |
| Construction End: | Q4/2022 |
Notably, of the Austin-based luxury hotel projects considered for this blog, three are to be located on Red River Street alone. More important, though, is the standout statistic that 67 percent of Austin’s planned and current hotel projects are new projects instead of renovations, expansions, or reflaggings. That influx of new hotels is sure to have an impact.
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