Austin’s Four Seasons joins W Hotel on the market

Feb 2, 2015
Austin American Statesman

Suddenly, two high-profile downtown Austin hotels are on the market

The building that is home to the Four Seasons Hotel Austin, 98 San Jacinto Blvd., is for sale, a hotel spokeswoman confirmed Friday. The news came just hours after the developer of the W Austin Hotel, at 200 Lavaca St., revealed in a securities filing Thursday that a company had been hired to market that building, as well

The Four Seasons is owned by Lodging Capital Partners and Prudential; the W is owned by a partnership led by Austin-based Stratus Properties Inc

Even though both properties are being advertised for sale, executives say it’s business as usual and that guests should notice no changes

“Hotel sales are a normal and regular occurrence within our industry, and the sale of Four Seasons Hotel Austin is no different,” hotel spokeswoman Kerri Sholly told the American-Statesman

The 291-room Four Seasons was built in 1986 and renovated extensively in 2007 and 2014. The Travis Central Appraisal District valued the property at $106.8 million in 2014

“Austin’s economy is thriving, and by all accounts the outlook for continued growth is strong,” Sholly said. “We also recently completed a multimillion-dollar renovation of our guest rooms, so the hotel has never been in better condition

“With these factors combined, the hotel owners likely view the current situation favorably and feel there is potential for them to make a positive return by selling at this time.”

Over the years, the Four Seasons has changed hands several times, including most recently in December 2012, but it has always remained affiliated with the prestigious Four Seasons brand

“Throughout these ownership changes, the hotel has always been managed by Four Seasons,” Sholly said. “If and when the hotel sells, it will continue to be operated as Four Seasons Hotel Austin and there will be no disruption in service or changes to the manner in which we operate.”

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