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.
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