AUSTIN, TX and SEATTLE, WA, July 10, 2012—The Dow Hotel Company (DHC), a Seattle-headquartered hotel owner/investor, today announced that a joint venture between DHC and The Carlyle Group’s (NASDAQ: CG) Carlyle Realty Partners VI have acquired the Lakeway Resort and Spa (top left photo) near Austin, Texas.
In addition, the new owners said they plan to invest more than $5 million to complete a renovation started by the prior ownership group. Operations of the resort will not be affected by the sale.
Situated on 12 acres with 1,000 feet of waterfront on Lake Travis in the Texas Hill Country, the AAA Four Diamond resort features 174 luxury guest rooms, suites and villas. The property is less than 30 miles from Austin and offers more than 24,000 square feet of flexible meeting and function space for both business and leisure groups.
For a complete copy of the company’s news release, please contact:
Chris Daly, media
(703) 435-6293
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