Close

Cart

Total $0.00

Checkout

CHICAGO--Hyatt Hotels Corporation (NYSE:H) today announced that a Hyatt affiliate has acquired its partners’ 92 percent interest in the 491-room Hyatt Regency Lost Pines Resort and Spa in Austin/Bastrop, Texas, for approximately $143 million. The Company also assumed approximately $65 million of property-level debt. The total price, inclusive of debt, implies a valuation of approximately $450,000 per key. The transaction closed on November 6.

“Hyatt Regency Lost Pines is a sought-after destination by both leisure and group guests and has strengthened Hyatt’s presence in the Austin area, where Hyatt has a broad spectrum of lodging experiences”

The resort has operated as Hyatt Regency Lost Pines Resort and Spa since it opened in 2006. The resort was developed by Woodbine Development Corporation of Dallas as developer, asset manager and managing general partner of Bastrop Resort Partners, L.P. Hyatt was one of the original co-owners and has managed the resort since its opening.

“Hyatt Regency Lost Pines is a sought-after destination by both leisure and group guests and has strengthened Hyatt’s presence in the Austin area, where Hyatt has a broad spectrum of lodging experiences,” said Steve Haggerty, global head of capital strategy, franchising and select service for Hyatt. “This transaction is consistent with our strategy to focus our investing in key areas such as resorts and group-oriented hotels. The resort’s financial and operating success of this property has made it a key asset in our portfolio, and whole ownership affords us greater control of the its future.”

Set on 405 acres along the banks of Texas’ Colorado River between Austin and Bastrop, Texas, Hyatt Regency Lost Pines is a destination unto itself. The award-winning resort features more than 60,000 square feet of indoor meeting space and over 240,000 square feet of outdoor function space with pavilions and an amphitheater, as well as the Wolfdancer Golf Club, Spa Django, Crooked River Water Park, and the Renegade Trailhead equestrian facility. Guests can also enjoy the adjoining 1,100-acre McKinney Roughs Nature Park. For more information, visit www.lostpines.hyatt.com.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a proud heritage of making guests feel more than welcome. Thousands of members of the Hyatt family strive to make a difference in the lives of the guests they encounter every day by providing authentic hospitality. The Company’s subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Hyatt®, Park Hyatt®, Andaz®, Grand Hyatt®, Hyatt Regency®, Hyatt Place®, Hyatt House®, Hyatt Zilara, Hyatt Ziva, Hyatt Residences® and Hyatt Residence Club® brand names and have locations on six continents. As of September 30, 2014, the Company's worldwide portfolio consisted of 573 properties in 48 countries. For more information, please visit www.hyatt.com.

Contact: Amy Patti

amy.patti@hyatt.com / +1-312.780.5620

About Bastrop Resort Partners, L.P.

Bastrop Resort Partners, L.P., a Texas limited partnership, was created in 2003 to develop and own Hyatt Regency Lost Pines Resort and Spa. The partnership included affiliates of Woodbine Development Corporation of Dallas, The Oklahoma Publishing Company; Cook Inlet Region, Inc., (CIRI) of Anchorage and Hyatt Hotels Corporation of Chicago. The original developer and asset manager of Hyatt Lost Pines, Woodbine is a 40-year-old, full-service real estate company specializing in hotel/resort, land and mixed-use projects. Woodbine and its financial partner Hunt Realty Investments, Inc., continue to hold full ownership of Hyatt Regency Hill Country Resort in San Antonio. For more information, visit www.woodbinedevelopment.com.

Related News

Hyatt Hotels Reports Fourth Quarter 2015 Results: Net Income of $37 million Down from $182 million in the Year Ago Quarter

Q3 2015 Financial Reports Round Up: Hyatt, Chesapeake, Ryman & Summit

SiteMinder Heralds Hyatt in Florida as 16,000th Hotel

GHV Hotel & Hyatt Open the 117-room Hyatt Place Pune/Hinjewadi in Western India

Hyatt to Launch Free Wi-Fi Access in All Lobbies and Guest Rooms Worldwide

Fu Wah New Zealand & Hyatt Enter Agreement for New 190-room Park Hyatt Auckland, to Open 2017

Hyatt Uses Service Optimization Solutions from Newmarket as “Keys to Creating Guest Satisfaction"

The Plasencia Group Reveals a Fresh Look Following Its 20th Anniversary

White Lodging & Hyatt Affiliate Form JV to Develop Dual-Branded Hyatt Place/Hyatt House in Denver

Hyatt Plans Two Openings in Tanzania; Park Hyatt Zanzibar in 2014 & Hyatt Regency Arusha in 2016

Robert Finvarb Companies & Hyatt to Develop New Hyatt South Beach; Island Hospitality to Manage

Inland American Real Estate Trust Acquires Two Andaz Hotels Located in Napa, CA and Savannah, GA

Michael Jokovich Promoted to Hyatt Area Vice President Northern California

Playa Hotels & Resorts Acquires the Former Ritz-Carlton Golf & Spa Resort in Rose Hall, Jamaica

Andaz Maui at Wailea Resort & Spa Opens as First Andaz at a Destination Resort & 10th for Brand

Hyatt to Acquire Florida's 1,641-room Peabody Orlando Hotel for $717 Million

The 419-room Hyatt Chicago Magnificent Mile Completes $25 Million Transformation

The 257-room Hyatt Chicago The Loop to Open in Chicago’s Central Business District in 2015

The 353-room Grand Hyatt Shenyang Opens in Northeast China

Hyatt Affiliate and Kamala Bay Ventures to Open Hyatt Regency Phuket Resort in Thailand in Late 2013

All News »

Please login or register to post a comment.