Hotel will be repositioned and rebranded by the California-based hotel owner and operator.
California-based Pacific Hospitality Group (PHG) announced its expansion with the purchase of Hotel Granduca Austin in Austin, Texas. This is PHG’s third hotel in the lone star state – with two Marriott-branded hotels in Dallas, Texas. PHG will be taking over operations of the hotel immediately with plans to rebrand the property as part of the Meritage Collection of independent hotels in the summer of 2021. Hotel Granduca Austin will mark the company’s sixth independent hotel in its Meritage Collection portfolio.
As our company expands, it has always been my goal to bring Austin into our growing portfolio,” said Garrett Busch, Vice President Capital Markets. “This area is poised for continued success with numerous companies moving to Austin, many from our home state of California. As owners and operators of many hotels, we believe we can support Austin’s booming economy with this new asset and our passion for hospitality.
Hotel Granduca Austin is located in the upscale Westlake neighborhood. The Austin landscape is home to many expanding and new companies, including Apple, Whole Foods, Oracle and many more. The 190,000-square-foot property has 194 rooms, including 38 suites, and sits on 38 acres with sweeping views of the hillsides. An ideal retreat for business travelers, the property includes 6,650 square feet of meeting space to host group meetings, weddings and other social events. The hotel also enjoys several room types, state-of-the-art fitness center, outdoor pool with private cabanas and spa treatment rooms.
We are incredibly proud to bring Meritage Collection’s renowned hospitality and service to the Austin market, said Chairman Tim Busch of Pacific Hospitality Group. Our resorts are steeped in the local experience and it is our privilege to play homage to Austin’s culture with our DNA of great service, phenomenal food and beverage, and exceptional customer experiences to bring what we believe will be a mainstay for both locals and visitors.
The JLL Hotels & Hospitality team representing the seller was led by Executive Vice President John Nugent and Vice President Parker Sherrill. Financing was led by Director Jillian Mariutti, Vice President Tyler Dumon and Senior Managing Director Doug Opalka.
The tremendous investor response to the Hotel Granduca Austin was driven by Interfin, the original developer, and their impeccable attention to detail with the original development as well as the strong anticipated tailwind that the Austin market will benefit from once the pandemic subsides,said Nugent.Pacific Hospitality Group’s vision for the property and the successful track record of the Meritage Collection bode incredibly well for the next chapter in the story of this remarkable hotel.
We are very excited to come in and operate this property in a city I love, said Paul McCormick, President and COO of PHG. “This hotel provides us with a great opportunity to bring in our operating, marketing, and food and beverage disciplines to run a hotel that is sure to be the property of choice for many guests for years to come.