The luxury JW Marriott Hotels & Resorts division of Marriott International Inc. (NASDAQ: MAR) announced on Friday the opening of its largest North American property, the JW Marriott Austin. With more than 1,000 guest rooms, the 34-story hotel is the largest in the city of Austin, Texas, and the second-largest of 70 JW Marriott luxury properties around the world.

The new hotel is big, but not too big. Of the 10 largest hotels in the world all have more than 3,800 rooms, and eight are located in Las Vegas, one is located in Macau and the tenth is in Malaysia. Nine of them include casinos. The world’s largest hotel is the MGM Grand in Las Vegas, with nearly 6,200 rooms.

Austin, home to the burgeoning South By Southwest tech conference and music extravaganza, is among the fastest growing cities in the United States. According to the hotel’s management, the new JW Marriott has already booked more than 435,000 room nights through 2021. While there is no casino gambling in Texas, the city is trying to pump up its convention business. The new hotel has the second-largest ballroom in the city and has already booked conferences by a stormwater management group, a business association and the South by Southwest Health and MedTech Expo.

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What is available? Here’s a rundown:

• There are three restaurants — Osteria Pronto, Corner and Burger Bar — and a full-service Starbucks
• About 40% of the rooms have king-sized beds and about 60% have two queen-sized beds.
• A standard room will cost an average of $399 per night.
• Executive suites will average $799 per night.
• A presidential suite (there are three) costs a tidy $2,000 per night.

Marriott International stock closed at $79.39 on Friday, in a 52-week range of $50.52 to $79.61. The consensus price target on the stock is $78.29.

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