Austin's Tourism Is Good, But Major Players Want Great
Austin's tourism industry brings in about $9B annually. In 2016, more than 24 million visitors came to Austin, many of whom stayed in one of the 8,000 hotel rooms downtown with an average daily rate of $220, according to the Austin Downtown Alliance. With another 2,100 hotel rooms in the pipeline, hospitality experts have set their sights on making Austin one of the top tourism destinations in the U.S.
Several things threaten Austin's brand as a travel destination, Austin Convention and Visitors Bureau president and CEO Tom Noonan said at Bisnow's Austin State of the Market last Wednesday. The city's homeless situation, the CVB's budget, several items of state…
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Everything You Need To Know About Tourism
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Not Slow To Adapt: CRE's Struggle With Siloed Solutions
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Saying commercial real estate has been slow to adapt to technological change fails to convey the nuanced nature of the issue. Tech companies have quickly developed a number of new CRE-oriented products, and many castigate legacy companies that seem unwilling to…
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Challenges Of An Increasingly Unaffordable And Dense Office Market
Cielo Property founding principal Rob Gandy has not ever seen a real estate cycle die of old age, but he is watching this mature cycle closely. There are no glaring signs of a bust, such as increased sublease space or…
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The Fabulous Real Estate Of White House Press Secretary Sean Spicer
The White House recently released public financial disclosures on executive branch personnel, revealing a surprising connection between White House secretary Sean Spicer and his boss: real estate.
Though nowhere near as expansive as President Donald Trump's real estate empire, Spicer holds a real estate portfolio worth millions. According to his disclosure, Spicer's overall holdings are worth just under $10M. This includes both commercial and rental properties that account for up to $5.25M. From Rhode Island to Alabama, this is what we know about the press secretary's real estate holdings and wealth, according to the public filing.
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Former Venterra Realty Founder Starts Value-Add Firm
Former co-founder and president of Venterra Realty Greg Finch has founded a value-add multifamily firm called Hilltop Residential. The company acquires and renovates multifamily communities in Texas and Southern states.
Finch has completed more than $4.2B in multifamily transactions and led the…
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Even Developers Agree The U.S. Has Way Too Much Retail Space
Retail is in the midst of a seismic shift. As bankruptcies skyrocket and investors adjust, a huge amount of retail real estate has become obsolete.
“There's about a billion square feet of retail space that needs to go away, that needs to be converted, for the market to get healthy,” CoStar director of retail research Suzanne Mulvee said at Bisnow's National Retail Series event in Manhattan Tuesday morning.
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Ascent West Takes Dealmaking To A New Level
You do not need Donald Trump to tell you how to master the art of the deal. Just make sure you are in Scottsdale, Ariz., April 24-26 for Ascent West, the exclusive retreat for real estate's top owners, developers and investors under 45-ish.
You cannot be there without an Ascent membership, though, and the window is closing fast on your chance to secure a spot in the real estate industry's most prestigious invite-only community. (Do not be left out in the cold when…
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