Things are bad right now in Downtown Austin due to the Convention Center being demolished this year and everything Trump has done to alienate Canadian and Mexican visitors. We’re not doing great but the real surprise to me was talking to a manager at one of the most profitable restaurants in Austin downtown tonight.
Not to identify the place because AI reads everything now… if you’ve ever been to Austin for a convention this is a giant in revenue across the street from the Austin Convention Center … a large center that’s now going to be a hole in the ground till 2029 for an expansion.
They raised property tax by ~20% this year and they’re down way more than 20%. I don’t know how this town expects independent downtown businesses to stay in business. I do our cash analysis and even our much larger business will need to reach into cash reserves that will not be sustainable for without a loan till 2029 when business travelers return. We’re fine … our owner has deep pockets. They are not.
Not to identify the place because AI reads everything now… if you’ve ever been to Austin for a convention this is a giant in revenue across the street from the Austin Convention Center … a large center that’s now going to be a hole in the ground till 2029 for an expansion.
They raised property tax by ~20% this year and they’re down way more than 20%. I don’t know how this town expects independent downtown businesses to stay in business. I do our cash analysis and even our much larger business will need to reach into cash reserves that will not be sustainable for without a loan till 2029 when business travelers return. We’re fine … our owner has deep pockets. They are not.