Point of Sale
Driskill Hotel rumored to be sold to Hyatt
It would appear that the historic Driskill Hotel is facing new ownership: the Austin American-Statesmanreports that a deal has been struck with the hotel’s current owners, Lowe Enterprises, and major accommodations brand Hyatt.
Both sides are mum on the details, but the Statesman corroborates what seems like a done deal. The 188-room hotel, perhaps best known for its stately appearance, heart of downtown location and its fine dining and watering holes, has been the subject of sale rumors in industry circles.
And as recent as Wednesday, a number of new postings were listed on Hyatt's job site, and for a time, Hyatt listed the Driskill as among its locations. (Those links have since been disabled, the Statesman writes.) The hotel’s current owners have apparently been marketing the location for sale since last year.
The most damning evidence of the Driskill’s looming sale? An email obtained by the newspaper by an exiting employee, which divulges that the hotel will be changing ownership this week. At this point, it seems all but official, and yet Hyatt remains coy.
Farley Kern, vice president for corporate communications for Hyatt Hotels & Resorts told the Statesman: “We are very interested in expanding our representation in the Austin market, but do not have any information to share about a specific transaction at this time.”
But it’s not as if Hyatt hasn’t already planted its flag in the downtown Austin real estate market — it just opened its largest Hyatt Place hotel in the country, with 296 rooms, on Tuesday at Third and Brazos streets.
When (and if) the sale is made official (though there’s also been no mention of a sale price), it remains uncertain when or what kind of changes might take place.
The 2013 CultureMap Tastemaker Awards will be held at the Driskill on April 11.