TORRANCE, CA— U.S. Bancorp Piper Jaffray served as sole managing underwriter on the sale of $245 million in revenue bonds for the 800-room convention center hotel in Austin, Texas. As previously reported by HOTEL BUSINESS®, the bond financing marks the first of its type for the municipal hospitality industry. Construction has already begun on the Hilton Hotel that is scheduled to open its doors in 2004. The hotel is being built in downtown Austin, adjacent to the Austin Convention Center, which is currently undergoing expansion.
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