AUSTIN – An affiliate of San Francisco-based The Axton Group has purchased the 492-room Renaissance Austin Hotel for $70 million.
The hotel, part of the Marriott International family of brands, is at 9721 Arboretum Blvd. It includes 88 suites and 77,600 sf of meeting and event space.
An affiliate of Walton Street Capital LLC provided acquisition financing. Eastdil Secured served as financial advisor.
Axton Group plans to upgrade the meeting rooms and other common spaces.
Get more Austin hotel news on the Real Estate Center’s website.
Source: REBusiness Online