W Austin Hotel & Residences condos sell, RevPAR 1Q

AUSTIN – As of first quarter 2013, the W Austin Hotel & Residences has sold 133 of the 159 condos for $146.4 million. Eight of the remaining 26 units were under contract.

Revenue per available room (RevPAR) at the W Austin Hotel was $278 during 1Q 2013, compared with $238 during 1Q 2012. The 251-room hotel, which Stratus Properties believes sets the standard for contemporary luxury in downtown Austin, is managed by Starwood Hotels & Resorts Worldwide, Inc.

The $300 million project was a joint venture of Stratus and Canyon-Johnson Urban Fund II LP.

Source: Securities and Exchange Commission