Hyatt takes full ownership of Lost Pines Resort

Nov 11, 2014
Austin American Statesman

Hyatt has acquired its partners’ 92 percent interest in the sprawling Hyatt Lost Pines Resort and Spa in Bastrop County, the company said Monday

Hyatt said the $143 million deal gives it 100 percent ownership of the 491-room resort

As part of the transaction, Hyatt said it is also assuming $65 million in debt related to the property, which is on a 405-acre site about 15 miles east of Austin-Bergstrom International Airport, off Texas 71 West

The transaction works out to about $450,000 per hotel room, according to Hyatt

“Hyatt Regency Lost Pines is a sought-after destination by both leisure and group guests and has strengthened Hyatt’s presence in the Austin area, where Hyatt has a broad spectrum of lodging experiences,” Steve Haggerty, Hyatt’s global head of capital strategy, franchising and select service, said in a written statement

“This transaction is consistent with our strategy to focus our investing in key areas such as resorts and group-oriented hotels. The resort’s financial and operating success of this property has made it a key asset in our portfolio, and whole ownership affords us greater control of its future.”

A Hyatt spokeswoman did not respond to questions from the American-Statesman about what – if any – changes Hyatt is considering for the resort

Hyatt and Dallas-based Woodbine Development Corp. teamed up to build the Hyatt Lost Pines, which opened in 2006. It is, by far, the largest hotel facility in Bastrop County

Amenities include a full-service spa and salon, fitness center, tennis courts, horseback riding, canoeing and kayaking, archery, bird watching, stargazing, a video arcade, a water park and several on-site bars, restaurants and shops

The resort also has extensive conference and banquet facilities, including two boardrooms, two ballrooms and 38 meeting rooms

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