After extensive interviews with many different companies, it was revealed that Trump was not the WINNER this time around.
It is no surprise that International companies are making ATX their first choice to invest. Austin has a lot to offer and it is rapidly growing in every area possible.
After a carefully and executed process of elimination, Trump did not make the cut on this specific project. After all who wants to associate their good reputation with someone is currently under FBI investigation! This was the statement released:
“It is normal, appropriate and necessary to speak with many hotel operators to discuss concepts during a diligence period. Our team went through an exhaustive process with some of the largest players nationally and could not be happier that we were able to enjoin our project with Capella Hotel Group.”
Horst Schulze, chairman for Hotel group has expressed in a written statement:
“We are pleased to team with Empyrean Development to manage, what will be, an iconic hotel in one of the country’s most unique cities. We look forward to being an integral part of the Austin Community.”
With an undisclosed opening date, the hotel is planned for 1201 Red River, a site currently home to a Brick Oven pizza restaurant. The development’s plans call for eight floors of parking with 300 spaces, as well as a rooftop lounge, two swimming pools, and an amenity deck, plus seven food and beverage venues, and with Austin amazing skyline the rooftop lounge will without a doubt be the first choice for most Austin nights.