Hostmark JV Acquires Hampton Inn Austin Airport
Tuesday November 12th, 2013 - 11:20AM E
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AUSTIN, TX—Hostmark Hospitality Group has entered into a joint venture with Pendo Investments to acquire the Hampton Inn Austin Airport located here for an undisclosed amount. Hostmark Hospitality Group will manage the property.
“This is a phenomenal opportunity to expand our relationship with Hilton and the Hampton Inn brand in one of the premier markets in the United States,” stated Jerome F. Cataldo, president and CEO of Hostmark Hospitality Group.
The 102-room hotel is located in close proximity to Austin-Bergstrom International Airport and five miles from the new Circuit of the America’s Formula 1 Racetrack and Austin 360 Amphitheater.
“We have assembled a premier team with Hostmark, Hilton and Pendo Investments, to capitalize on a great hotel in a fantastic city,” stated Brian Buchhagen, president of California-based Pendo Investments. “We have earmarked capital to fully renovate the property providing a best-in-class guest product and experience,” he concludes.
Tags: Hostmark Hospitality Group • Hospitality • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.