California-based Pacific Hospitality Group (PHG) has announced its expansion with the purchase of Hotel Granduca Austin in Texas.
This is the third hotel for the company in the Lone Star state – with two Marriott-branded hotels in Dallas also in the portfolio.
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, PHG.
“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 neighbourhood.
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