COTA Could Land 1,000-Room Hotel and 460,000-Square-Foot Convention Center
The Circuit of the Americas (COTA), one of the world’s most iconic speedways located in southeast Austin, could soon become home to a major new hospitality and event venue. A proposal currently under review by the City of Austin outlines plans to develop a 1,000-room hotel and an expansive 460,000-square-foot convention center on the COTA site. The project would enhance the venue, which already hosts internationally recognized races including Formula One, in addition to numerous concerts and entertainment events.
According to a report from the Austin Business Journal, Houston-based RIDA Development Corp. is leading the project. The firm is offering to transfer ownership of the land and the convention center to the City of Austin—a move necessary for the city to secure state-provided rebates on hotel operations. These rebates are reportedly essential to ensuring the financial viability of the venture.
RIDA Development Corp. has a strong track record of delivering large-scale hospitality projects across the country. One of its flagship developments is the Marriott Marquis Houston, a prominent 1,000-room hotel that includes a 153,000-square-foot meeting center in downtown Houston.
The development process for the proposed COTA hotel and convention center is expected to span several years. Design and entitlement phases are estimated to take 12 to 18 months, with construction projected to last an additional 30 to 36 months.
