Cost of the room is high enough here, but they really do nickel and dime you (I mean twenty and twenty you) for everything here. Quick check of email in business center? Give us money. Need to self-park? We'll soak you. Worse, we stayed for several days after Christmas and our floor was a construction zone, as was part of the lobby. Noisy. Unpleasant. I did have one positive experience here, however. A woman who appeared to be some kind of manager or trouble-shooter stopped by the table at our morning meal and asked about our stay. I did register one of my construction complaints and she comped breakfast and offered to get the desk to move us. (This was on our last day, though.) Her name might have been Yvette. Anyway, I saw the way she interacted with guests on other occasions, too, and she was definitely a fine ambassador (give that woman a raise!) for a not so fine hotel.

I have been traveling to Austin on business on/off for approx. a year and have stayed at a number of properties there.
Generally, I am a Marriott (Courtyard, Springhill, etc.) fan, but this place is pretty amazing!
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The location is towards the Southern part of downtown but an easy, comfortable walk to 6th St, the Red River "district" and even The Capitol. Parking is the typically over-priced hotel deal, but there's street parking around and the light-rail will be going in pretty close by.
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The decor is grand, stylishly and functional. Big, wide open lobby with a fun little bar and friendly, upscale snack place on one side of the level. Do not avoid "Finn & Porter" a half-level down on the other side of the lobby -- one of my (our entire office's) favorite road restaurants we've ever attended.
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Rooms are luxurious and comfy, but not too big or intimidating. This is an upscale hotel - not a basic property and the various accoutrements and fixtures (tv, radio, etc.) are consistent with that theme.
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Finally (and typically most importantly), the service is excellent - front room, door/bell, room service, etc. No unexpected unpleasant surprises.
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My experience is that the rate can fluctuate wildly depending on the Texas Legislature's schedule and Univ. of Texas. Some times, you can't beg for a room at $280+ and other nites can be purchased for $150 or less. Very market driven.

I disagree with some of the other negative reviews. I stayed here for four days ( business conference). I'm a Hilton Gold member so I got an upgrade to the concierge level. Decent free breakfast with very good fruit, juice, coffee, pastries, etc. Views of the city from the 24th floor were fantastic. And it's a block away from the action on sixth street. I'd agree with a previous reviewer that if you want to avoid the sounds of late-night music wafting up from the clubs, request a higher level floor. The fitness center was very nice - separate cardio and weight rooms with many cross-trainers, treadmills, bikes and steppers. Free weights and machines. Steam room and sauna. Everything very clean.
The pool and jacuzzi are on the roof of the eight floor. Nice breeze and sun.Beds were very comfortable. The business functions were handled smoothly and professionally. Friendly, efficient service. For Barbecue freaks, Stubbs is 6 blocks up on Red River St. and Iron Works BBQ is 4 blocks down Red River.
I'd definitely stay here again.

My family stayed here for a whole week and enjoyed every minute of it! We stayed at the 26th floor of the Executive Suite level which boasted a beautiful downtown view of Austin. The sunrises and sunsets were just unbelievable. Complimentary breakfast in the morning, cookies and milk early afternoon, then "horde-overs" in the evening. The staff were all very courteous and eager to please. Room service was better than I expected and the food was mouth-watering. Our bed was really comfy. I love sleeping with pillows surrounding me and they had 5 feather-down pillows on my bed and the sheets were top quality, too. Outdoor pool is heated and clean which we enjoyed quite a bit. The room was kept clean and had chocolate mints waiting for us after a dip in the hot tub. All in all - a wonderfully decent experience.