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The Driskill Hotel has a new owner
Hyatt Hotels buys hotel for $85 million
Updated: Friday, 08 Mar 2013, 10:28 PM CST
Published : Friday, 08 Mar 2013, 5:57 PM CST
AUSTIN (KXAN) - The historic Driskill Hotel is getting a makeover and a new owner.
On Friday, Hyatt Hotels Corporation announced that a Hyatt affiliate acquired the Driskill Hotel for approximately $85 million.
While the hotel will be managed by Hyatt Hotels & Resorts, the name won't be changing.
Over the next two years, the 189-room hotel will go through an $8 million renovation. The hotel was built in 1886 and designated a national historic landmark in 1969.
"We are thrilled to add such a well-loved local icon to the Hyatt family and are delighted to be increasing our presence in Austin, which offers world-class business and educational institutions, as well as thriving entertainment and technology scenes," said Rakesh Sarna, group president - Americas for Hyatt.
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