February 9, 2017
The city of Round Rock, TX liked the idea of a new Embassy Suites Hotel and Conference Center enough to approve it. Specifically, the Round Rock City Council approved an economic development agreement with Stonemill Hospitality LLC to build a $20 million hotel and convention center on approximately six acres near the Bass Pro Shops and Round Rock Premium Outlets on Interstate 35, north of Austin, TX.
The agreement calls for a 160-key hotel, and approximately 14,000 square feet of convention and meeting space. In return, Stonemill will be rebated 57% of the occupancy tax generated by the hotel each quarter for the first 10 years, or up to $4 million, whichever comes first. Though the city typically doesn’t incentivize hotels, the deal was offered because it brings convention center space to the north of Round Rock.
The project is expected to deliver in 2018.
For comments, questions or concerns, please contact Amy Sorter
For advertising information, please contact Joni Margotta