Skip to content
sanpjer-rab

sanpjer-rab

Comfortable house occupancy

Primary Menu sanpjer-rab

sanpjer-rab

  • residential panoramas
  • elite housing
  • apartment
  • real estate
  • property
  • News Real estate world
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • News Real estate world

Pixiu Real Estate and Woodbine Development Acquire The Driskill Hotel

2 months ago Magenet Magenet

[ad_1]

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

AUSTIN, Texas, May 25, 2022–(BUSINESS WIRE)–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, who have a common goal of enhancing this hotel and ensuring its legacy for years to come.”

The Driskill anchors the Sixth Street Entertainment District in downtown Austin. The new ownership group is looking to maintain and elevate the appeal of the 189-room luxury hotel while also helping to stabilize and revitalize the surrounding neighborhood. The group has expressed initial plans to invest a substantial amount of capital, which is intended to help spur momentum for revitalization along Sixth Street.

“We are thrilled about this important acquisition because of what it represents for Austin and for Pixiu Real Estate,” said Eddie Margain. “As an Austinite, I know and appreciate the historical significance of this more than 130-year-old property. And, as our community continues to grow, I believe we need to preserve and revitalize landmarks like The Driskill that have contributed to the making of Austin’s distinct character and spirit.”

Margain added: “We made calls to good friends who have the same interest of preserving Austin and a desire to work on a legacy project, and an amazing group came together. Partnering with Woodbine Development has been an incredible experience; they are world-class hotel operators, and they know the hotel industry like none other.”

Dallas-based Woodbine brings nearly 50 years of hospitality development and asset management experience to the hotel’s ownership group. The company’s portfolio of work includes Austin’s Hotel Magdalena and Hyatt Regency Lost Pines Resort & Spa; San Antonio’s Hotel Emma and Hyatt Regency Hill Country Resort & Spa; Hyatt Regency Dallas and Reunion Tower and Hilton Dallas/Park Cities; and many other properties throughout Texas and the United States. Woodbine specializes in developing select- and full-service destinations in urban, suburban and inspiring out-of-the-way settings as well as office/mixed-use projects – always creating places people want to be.

Just a few blocks from the Texas capitol, The Driskill opened its doors in 1886, quickly becoming known as the Grande Dame of Austin. A confluence of opulence and luxury, the hotel has been the destination of choice for an array of guests over the years – for overnights, special events, SXSW sessions, election-night watch parties, political drink-sipping and deal-making, weddings and engagements (future president Lyndon B. Johnson proposed to Lady Bird during their first date, which took place at the hotel) and much more.

While no longer owners of the hotel, Hyatt Hotels & Resorts will continue daily management of the property.

About Woodbine Development Corporation

Woodbine Development Corporation is a full-service real estate company with nearly 50 years of development, investment, acquisition and asset management experience. With offices in Dallas and Phoenix, Woodbine specializes in hotels, resorts and mixed-use developments throughout the United States. The company’s hospitality portfolio features major brands, independent hotels, full-service destinations and select-service stays alike. Since 1973, Woodbine has been involved in more than $7 billion in commercial real estate projects, including the development, ownership, asset management, repositioning or renovation of over 17,000 hotel rooms. To learn more, visit www.woodbinedevelopment.com.

About Pixiu Real Estate

Pixiu Real Estate was founded in 2010 and is comprised of an expanding portfolio of real estate properties around Austin and Texas. Among the iconic properties of which Pixiu has ownership are the Littlefield and Scarbrough buildings adjacent to The Driskill. The firm also has ownership in several other buildings downtown. Pixiu Real Estate’s parent company, Pixiu Investments, is a prominent investment firm based in Austin, Texas with investments across multiple industries including real estate, technology, hospitality, energy, and professional sports.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005828/en/

Contacts

Amanda Fier, Hiebing for Woodbine Development Corporation
512.643.2172, [email protected]

Matt Loweree for Pixiu Investments
512.305.3399, [email protected]

[ad_2]

Source link

Tags: C J Real Estate, C.F. Real Estate, C&M Real Estate, C&R Real Estate Services, D Real Estate Appraiser, D Real Estate Daily, D Real Estate Logo, D'Arcy Real Estate, D'Ettorre Real Estate, D&B Real Estate, E Real Estate Agency, E Real Estate Agents Act 2008, E Real Estate Corp, E Real Estate Depot, E Real Estate Depot Mission Tx, E Real Estate Llc, E Real Estate Logo, E Real Estate Meaning, F Real Estate Developer, F Real Estate Logo, F Real Estate Management, F Real Estate Words, F&C Real Estate Investments, F&G Real Estate, H&F Real Estate, M&D Real Estate, Real Estate Data, Real Estate Definition, Real Estate Degree, Real Estate Desoto County Ms, Real Estate Developer, Real Estate Development Consultant, Real Estate Dyer County Tn, Real Estate Dyersburg Tn, Real Estate Etf, Real Estate Exam Prep, Real Estate Exam Questions, Real Estate Express Login, Real Estate Express Reviews, Real Estate Fayette County Tn, Real Estate Florida, Real Estate For Dummies, Real Estate For Sale, Real Estate For Sale Memphis Tn, Real Estate For Sale Near Me, Real Estate For Sale Oxford Ms, Real Estate Forecast 2022, Real Estate Germantown Tn, S&D Real Estate

Continue Reading

Previous New Denver Coworking Space Opens Downtown
Next Opportunity Zones Aren’t Perfect, But New Reforms Should Help

More Stories

  • News Real estate world

Shop Digital Gadgets Products Online!

1 week ago Terry L. Kramer
  • News Real estate world

Countryside puts offsite factory up for sale

1 week ago Magenet Magenet
  • News Real estate world

A Better Future Demands Better Road Building Techniques Today

1 week ago Magenet Magenet

Recent Posts

  • Shop Digital Gadgets Products Online!
  • Countryside puts offsite factory up for sale
  • When Is a House Down Payment Due and How Much Do I Need?
  • 50 Essential Home Staging Statistics for 2022
  • 5 Mistakes That Make Your Email Newsletter Unreadable

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • January 2022
  • October 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • October 2020
  • November 2018
  • October 2018
  • January 2017

Categories

  • apartment
  • elite housing
  • News Real estate world
  • property
  • real estate
  • residential panoramas

Visit Now

Another example
Intellifluence Trusted Blogger

BL

TL

quality guest posts 

You may have missed

  • News Real estate world

Shop Digital Gadgets Products Online!

1 week ago Terry L. Kramer
  • News Real estate world

Countryside puts offsite factory up for sale

1 week ago Magenet Magenet
Kier and Wates secure £500m prison upgrade work
  • apartment

When Is a House Down Payment Due and How Much Do I Need?

1 week ago Magenet Magenet
  • residential panoramas

50 Essential Home Staging Statistics for 2022

1 week ago Magenet Magenet
Rise in Pakistan’s exports to China
  • real estate

5 Mistakes That Make Your Email Newsletter Unreadable

1 week ago Magenet Magenet
sanpjer-rab.com © All rights reserved. | CoverNews by AF themes.