In a flurry of buyer activity, Staybridge Suites Austin South was one of the hotels that recently sold.AUSTIN, TX—With a strong economy, and a continued influx of both residents and businesses to the Austin and San Antonio markets, Central Texas is boasting increased investments in the hotel industry. In fact, last year, CBRE Hotels sold an average of one hotel a month in Central Texas, totaling seven in Austin MSA and four in San Antonio. Dennis Drake, Michael Yu and Rahul Bijlani with CBRE's hotels group arranged the transactions.
“With large companies continuing their rapid expansion in Austin, it is just a matter of time before the market stabilizes and resumes its rapid growth,” said CBRE senior associate Drake.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
