Mohr Capital acquires 350-room hotel, marks first hospitality investment

Mohr Capital has purchased the 350-room DoubleTree by Hilton Austin at 6505 N. Interstate 35 in Austin for an undisclosed amount. The seller was not disclosed.

The acquisition marks Mohr Capital’s first hospitality investment.

The six-story hotel contains almost 25,000 square feet of meeting space including a ballroom. This ballroom will be upgraded along with the guest rooms, elevators and common spaces. In all, Mohr Capital plans to invest $11 million to upgrade the property, which is ideally located near the intersection of Interstate 35 and U.S. Highway 290 in Central Austin. As part of the acquisition process, Mohr Capital brought in HEI Hotels & Resorts to manage the hotel on its behalf.

“This is the beginning of a new vertical for Mohr Capital, and we anticipate making further investments in the hospitality industry,” said Bob Mohr, chairman of Mohr Capital. “We have been looking to get into the hospitality business for a few years. The pandem