Best bet in the country for new hotel construction? Austin, Texas of course!

Ever wonder what’s going on downtown? The short answer is everything! As an Austinite, you are keenly aware that there are a number of events, construction, and traffic problems, in and around downtown on any given weekend. While the events and traffic problems will only increase with the rise of urban density, the construction can’t go on infinitely. Wishful thinking! According to this New York Times article, the hotel industry is betting big that Austin’s downtown will continue to flourish. With ACL, Formula 1, and SXSW, Austin needs hotel rooms and big firms are willing to invest in Austin. This development downtown only adds to Austin’s progressive, ultra cool reputation nationwide and drives migration. You know where I’m going, right? Everything feeds upon itself and the residential market will only benefit. Enjoy the read.

http://www.nytimes.com/2013/10/02/realestate/commercial/as-travel-picks-up-hotels-gain-allure-for-investors.html?pagewanted=1&_r=0&src=me