California-based Pacific Hospitality Group (PHG) has announced its expansion with the purchase of Hotel Granduca Austin in Texas.
The deal represents PHG’s third hotel in the lone star state – with two Marriott-branded hotels in Dallas, Texas.
PHG will be taking over operations of the hotel immediately with plans to rebrand the property as part of the Meritage Collection of independent hotels in the summer of 2021. Hotel Granduca Austin will mark the company’s sixth independent hotel in its Meritage Collection portfolio.
“As our company expands, it has always been my goal to bring Austin into our growing portfolio,” said Garrett Busch, vice-president Capital Markets. “This area is poised for continued success with numerous companies moving to Austin, many from our home state of California. As owners and operators of many hotels, we believe we can support Austin’s booming economy with this new asset.”
Hotel Granduca Austin is located in the upscale Westlake neighbourhood. The Austin landscape is home to many expanding and new companies, including Apple, Whole Foods and Oracle. The 190,000-square-foot (17,651sqm) property has 194 rooms, including 38 suites, and sits on 38 acres. The property includes 6,650 square feet of meeting space.
“We are very excited to come in and operate this property in a city I love,” said Paul McCormick, president and COO of PHG. “This hotel provides us with a great opportunity to bring in our operating, marketing, and food and beverage disciplines to run a hotel that is sure to be the property of choice for many guests for years to come.”
PHG has 13 hotels and serves as the parent company to a portfolio of lifestyle and luxury properties known as the Meritage Collection. Meritage Collection hotels include Paséa Hotel & Spa in Huntington Beach, Estancia La Jolla Hotel & Spa near San Diego, Ko’a Kea Hotel & Resort in Kauai, and two Napa Valley properties – The Meritage Resort and Spa and Vista Collina Resort.
