Host Hotels & Resorts acquires Hyatt Regency Austin for $161m

Host Hotels & Resorts has acquired the fee simple interest in the 448-room Hyatt Regency Austin in Austin, Texas, for approximately $161 million.

Hyatt will continue to manage Hyatt Regency Austin under a long-term management agreement.

James F. Risoleo, president and CEO, said, “We are excited to have executed an off-market, opportunistic acquisition of a high-quality hotel in one of the nation’s fastest growing cities, which continues to be a top beneficiary of corporate and people relocation. As travel resumes, we expect the well-located Hyatt Regency Austin to benefit from a strong rebound led by Austin’s multiple leisure and business demand drivers that are anchored in world-renowned music festivals, sporting events and blue-chip corporations. Additionally, we are encouraged by the reported contraction in Austin’s hotel construction pipeline relative to p