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97897 23 Dec 2020

Hotel Granduca Austin Acquired by Pacific Hospitality Group

The hotel will be repositioned and rebranded by the California-based hotel owner and operator

IRVINE, CALIF. (Dec. 22, 2020) California-based Pacific Hospitality Group (PHG) today announced its expansion with the purchase of Hotel Granduca Austin in Austin, Texas. This is 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," saidGarrett 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 and our passion for hospitality."

Hotel Granduca Austin is located in the upscale Westlake neighborhood. The Austin landscape is home to many expanding and new companies, including Apple, Whole Foods, Oracle and many more. The 190,000-square-foot property has 194 rooms, including 38 suites, and sits on 38 acres with sweeping views of the hillsides. An ideal retreat for business travelers, the property includes 6,650 square feet of meeting space to host group meetings, weddings and other social events. The hotel also enjoys several room types, state-of-the-art fitness center, outdoor pool with private cabanas and spa treatment rooms.

"We are incredibly proud to bring Meritage Collections renowned hospitality and service to the Austin market,"said ChairmanTim Buschof Pacific Hospitality Group. "Our resorts are steeped in the local experience and it is our privilege to play homage to Austins culture with our DNA of great service, phenomenalfood and beverage, and exceptional customer experiences to bring what webelieve willbe a mainstay for both locals and visitors."

The JLL Hotelsand Hospitality team representing the seller was led by Executive Vice President John Nugent and Vice President Parker Sherrill. Financing was led by Director Jillian Mariutti, Vice President Tyler Dumon and Senior Managing Director Doug Opalka.

"The tremendous investor response to the HotelGranducaAustin was driven by Interfin, the original developer, and their impeccable attention to detail with the original development as well as the strong anticipated tailwind that the Austin market will benefit from once the pandemic subsides," said Nugent. "Pacific Hospitality Group's vision for the property and the successful track record of the Meritage Collection bode incredibly well for the next chapter in the story of this remarkable hotel."

"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."

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About Pacific Hospitality Group

Established in 1987, Pacific Hospitality Group (PHG) is a growing hospitality company with 13 hotels in its portfolio. Based in Irvine, California, the company owns, manages, finances and develops hotels in iconic destinations. PHG serves as the parent company to a portfolio of lifestyle and luxury properties known as the Meritage Collection. Meritage Collection hotels include Pasa Hotel Spa in Huntington Beach, Estancia La Jolla Hotel Spa near San Diego, Koa Kea Hotel Resort in Kauai, and two Napa Valley properties The Meritage Resort and Spa and Vista Collina Resort. Hotel Granduca Austin will soon be added as the sixth hotel in the Meritage Collection portfolio.

Pacific Hospitality Group also serves as the franchisee of the following properties: AC Hotel and Residence Inn Dallas by the Galleria, AC Hotel Phoenix Tempe/Downtown, AC Hotel Irvine, AC Hotel New Orleans Bourbon/French Quarter Area, DoubleTree by Hilton Irvine Spectrum, and DoubleTree by Hilton Santa Ana /Orange County Airport. PHG is also opening a Hyatt Place in Phoenix, Arizona in the end of 2021. Other PHG affiliations include Trinitas Cellars.

Hotel Granduca Austin is located at 320 S. Capital of Texas Hwy, Bldg. B, Austin, TX 78746. For reservations and more information, call 512-306-6400, or visitgranducaaustin.com.