Lake Austin Resort is a beautiful property located in the picturesque city of Austin, Texas. The resort is spread over 19 acres and offers numerous amenities to its guests.
However, many people often wonder who owns this magnificent property. In this article, we will explore the ownership of Lake Austin Resort.
The History of Lake Austin Resort
Before we get into the ownership details, let’s take a quick look at the history of Lake Austin Resort. The property was initially owned by Charles S. Hurst, who was a prominent businessman in Austin.
Hurst bought the land in 1946 and built a small fishing camp on it that he named ‘Hurst Harbor’. Over time, Hurst added more cabins and facilities to the camp, eventually transforming it into a full-fledged resort.
In 1963, Hurst sold the property to Houston-based businessman Joe Allbritton. Allbritton invested heavily in the resort and expanded it further by adding more rooms, a swimming pool, and various other amenities.
Current Ownership
Today, Lake Austin Resort is owned by Dallas-based private equity firm KSL Capital Partners LLC. KSL acquired the property from Blackstone Group LP in 2018 for an undisclosed amount. Blackstone had owned the resort since 2004 when it acquired it as part of its $1.25 billion acquisition of Wyndham International Inc.
KSL Capital Partners is known for investing in upscale travel and leisure businesses. The firm owns several other luxury resorts across the world including The Belfry Hotel & Resort in England and Rancho Las Palmas Resort & Spa in California.
The Future of Lake Austin Resort
Under KSL’s ownership, Lake Austin Resort has undergone several renovations and upgrades to ensure that it remains one of the most luxurious resorts in Texas. The resort now boasts 40 guest rooms spread across various buildings, a full-service spa, multiple dining options, and numerous recreational activities.
KSL has also announced plans to add more rooms and suites to the property in the coming years. The firm believes that Lake Austin Resort has immense potential and aims to make it one of the top luxury resorts in the United States.
Conclusion
In conclusion, Lake Austin Resort is currently owned by KSL Capital Partners LLC. The resort has a rich history and has undergone several transformations under different owners. KSL plans to continue investing in the property to ensure that it remains a premier destination for luxury travel in Texas.
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