Austin's Lakeway Resort & Spa sells for $34MAustin's Lakeway Resort & Spa sells for $34Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=17822015-02-10T08:51:00Z2015-02-10T00:00:00Z

AUSTIN - Ashford Hospitality Trust has purchased the 168-room Lakeway Resort & Spa for $33.5 million or $199,000 per key.

Located on the shore of Lake Travis at 101 Lakeway Drive in Lakeway, the hotel features 24,000 sf of meeting space.

The hotel achieved RevPAR of $108.67, with occupancy of 62.5 percent and an Average Daily Rate of $173.87.

The Lakeway Resort & Spa recently benefited from capital improvements of $6 million ($36,000 per key) over the past 24 months including a complete renovation of the guestrooms.

Read more at the Austin American-Statesman.

Austin American-Statesman
Austin-Round Rock
http://www.mystatesman.com/news/business/business-digest-sale-of-lakeway-resort-spa-finaliz/nj7cf/#0c7befd8.3380261.735639-in-austin-for-33-5-m/Read more at {Source}

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