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Austin Business Journal reported that the five-year-old Hilton Austin is investing more than $6 million on remodeling, which would finish in two years. The hotel started its renovation project with a $600,000 makeover of the Finn & Porter Restaurant, $500,000 for new guestroom carpeting and $800,000 in new features for its ballrooms in 2008. The total cost of renovations would amount to $4 million. In 2009, the hotel has decided to spend around $2 million further to replace carpets and to upgrade technology for its meeting spaces and ballrooms.
Joe Bolash, Hilton Austin’s resident manager was quoted by the Austin Business Journal as saying: “The state of the economy has not diminished and may have even increased our guests’ expectations in regard to value for the dollar. It’s understandable, and we have to deliver on that expectation.”
Local paper the Austin American-Statesman reported that the Four Seasons Hotel has already finished its $15 million renovations in 2007 and 2008 and the hotel has further plans to spend $1.2 million in the coming six months. The Omni Austin Hotel is already going through a remodeling which would cost around $10 million. The Hampton Inn & Suites downtown is scheduled to finish its $1 million renovations soon. In the last three years, the Hyatt Regency Hotel has invested $24 million on renovations, giving it a modern look.
According to the Statesman, Tom Segesta, general manager of the Four Seasons Hotel and president of the Austin Hotel and Lodging Association believes that though occupancy will be down this year as compared to that of 2006, the Austin hotel market is comparatively better in comparison to other cities across the country.
Joe Bolash, resident manager of the Hilton, was quoted by the Statesman as saying: “The rest of the year is hinting that business could be respectable, even in light of the current economic conditions throughout the country. It’s enough to keep us optimistic.”
