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The purchase of the historic downtown property is part of a greater plan to enhance the hotel while improving the appeal of the adjacent entertainment district
Pixiu Real Estate, Woodbine Development Corporation and a collective of Austin-based investors have acquired the capital city’s first and most iconic hotel, The Driskill, from Hyatt Hotels & Resorts.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220525005828/en/
Pixiu Real Estate and Woodbine Development acquired The Driskill Hotel in Austin, Texas. It was the city’s first hotel and opened in 1886. (Photo: Business Wire)
Woodbine Development Corporation is the Dallas-based real estate investment firm behind many notable hotel properties in Texas and beyond. Pixiu Real Estate is part of Pixiu Investments, an investment firm owned by Eddie Margain, co-founder of several ventures, including local MLS club Austin FC. Among the investor group is Bryan Sheffield, founder of Parsley Energy and fellow investor in Austin FC.
“As a destination, The Driskill Hotel has been a shining star for Austinites and Texas-bound travelers since it opened its doors in 1886,” said Dupree Scovell, managing partner and chief investment officer at Woodbine. “As new owners and stewards of this historic property, we’re excited to work with Hyatt, Pixiu and the local investor group, …
Full story available on Benzinga.com
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