AUSTIN - Strategic Hotels and Resorts paid $197 million for the Four Seasons at 98 San Jacinto Blvd.
The sale of the 291-room luxury hotel — which will continue to remain affiliated with the Four Seasons brand — is expected to close this month.
“With spectacular views of Lady Bird Lake and easy access to Austin’s central business district, convention center and popular annual events, the Four Seasons Austin is well-positioned under our ownership to deliver the city’s most distinctive luxury hotel experience” said Strategic Hotels and Resorts chairman and CEO Raymond Gellein.
Strategic Hotels and Resorts owns about 20 hotels worldwide, specializing in “desirable and high-barrier-to-entry urban and resort markets.”
The Four Seasons Austin Hotel will be the company’s first hotel in Texas. Lodging Capital Partners and Prudential are the sellers.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.