The acquisition of the Hotel gives a new Buyer the opportunity to purchase a strong-branded Hyatt product with significant upside in terms of top-line revenue. As the closest hotel to Austin-Bergstrom International Airport, the Hotel benefits from a prime location that will enable a new Owner to leverage the ongoing growth in passenger traffic as the Austin Airport proceeds with a $4 billion expansion that will add 20 new gates in a new Concourse B and can expand up to 40 new gates in the long term, more than doubling the current 34 gates under the expansion branded "Journey with AUS."
Austin is the state capital of Texas, as well as the seat and most populous city of Travis County. It has been one of the fastest growing large cities in the United States since 2010, with an estimated population of 964,177. By 2030, Austin is projected to have a population of 3.2 million. The growth is spurred by several tech giants like Dell, Apple, Amazon, Facebook, Oracle and Tesla having a large presence in Austin. In addition, Austin is home to the 51,913-student University of Texas campus, the massive SXSW tech & entertainment festival, and the newly approved $1.6 billion redevelopment to double the size of the Austin Convention Center.
Austin-Bergstrom International Airport is one of the fastest-growing airports in the United States. As of 2023, there were more than 550 arrivals and departures on the typical weekday to 97 destinations in North America and Europe. Austin-Bergstrom is also an economic engine in Central Texas, supplying over 74,000 direct and indirect jobs in the Central Texas region. The AUS 2040 Master Plan anticipates the growth of passenger volume to accommodate over 31 million annual passengers. The AUS 2040 Master Plan identifies projects that will help the airport increase capacity for more flights, more passengers and more cargo activity along with enabling and supporting infrastructure.
HREC Investment Advisors (“HREC IA”) is pleased to offer qualified investors the opportunity to acquire the leasehold interest in the 139-room Hyatt Place Austin Airport (“Hotel” or “Property”), which opened in 2017 and is located at 9532 Spirit of Austin Ln, Austin, TX 78719.