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800-Room Convention Center Hilton Reaches Milestone

AUSTIN-The topping out ceremony is teamed with the release of an economic impact study that shows the CBD project could generate $1.8 billion for Austin in the next decade. First-year projections alone are $558 million, says local economist Angelos Angelou.

By Tim Green | Updated on January 20, 2003

AUSTIN-The Austin Hilton Hotel has reached a milestone with a topping out that pushes the 800-room hotel project past the halfway point for construction. It is scheduled to open in January 2004.

The CBD hotel, next to the Austin Convention Center, could have an economic impact on the community of $1.8 billion over 10 years, according to a study conducted by Angelou Economic Advisors. The study was commissioned by the hotel’s developers and released in conjunction with the topping-out ceremony.

The impact could be $558 million in the first year alone, according to Angelos Angelou, the principal chief economist of the Austin-based firm. A good chunk of that is from $379.6 million in one-time investment upfront investment in the hotel.

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