Search
 

Extended StayAmerica Opens Fifth Hotel, Another on Drawing Boards

AUSTIN-Extended StayAmerica has opened its 37th hotel in Texas and fifth in Austin, where plans are afoot for a sixth facility. And, says a company spokeswoman, more hotels are on the way.

By Jackie Isaly | Updated on November 20, 2000

AUSTIN-Extended StayAmerica has opened its fifth Austin location at 600 Guadalupe St. and is finalizing a contract to begin construction on a sixth property off MoPac Boulevard. The 101-room, four-story hotel located on the city’s heavily traveled, centrally located Guadalupe Street, utilizes 33,930 sf and is situated on 1.63 acres, says an Extended StayAmerica source. She says project costs tally about $8.3 million. The opening of the Guadalupe Street location marks the Fort Lauderdale-based company’s 37th Texas location.

“We have a lot of contracts for properties in Texas at the moment, but no construction under way in Texas,” says the company contact. Construction is pending at MoPac Boulevard and Southwest Parkway where Extended StayAmerica hopes to open its 38th Texas location after finalizing contract negotiations for the land. Construction is tentatively scheduled to begin in early 2001, says the spokeswoman.

“We choose our areas for expansion based on market demand for extended-stay properties,” she says. “Most of our development is in the West and Northeast.” Company real estate representatives operating out of eight regions select the sites. Texas is included in the company’s southeastern division based in Spartanburg, SC. A site such as the company’s new Guadalupe Street location in Austin, she explains, appeals to the company because it is in a high-visibility area, near the Capitol and the University of Texas.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.