Stratus Properties Reports 2009 Net Loss

The last year wasn't good to the manager of the yet-to-open W Austin Hotel & Residences. Stratus Properties Inc. reported a $6.2 million deficit for fiscal year 2009, compared with a $3.8 million loss the year before.

Stratus also said that construction of the W is progressing on time and on budget, and that while the fourth quarter was still in the red, things are improving.  The net loss for the fourth quarter of 2009 was $1.2 million, compared with $2 million for the same quarter in 2008.

Stratus Properties is the manager for the Austin W, but controls only 40 percent of the interest.  Canyon-Johnson Urban Fund II LLP owns the remaining stake.

When it opens later this year, the W will be the new home of the Austin City Limits studio, and will contain 159 residences and 252 guestrooms.