The 448-room Hyatt Regency Austin overlooking Woman Hen Lake has altered fingers.

Bethesda, Md.-primarily based Host Hotels & Resorts said it procured the hotel for about $161 million in dollars. The acquisition came ahead of a planned foreclosures auction of the residence, Host Lodges reported. Host Motels is the nation’s biggest real estate expense believe in in the lodging sector.

The hotel’s past owner is stated as Tantallon Austin Hotel LLC by the Travis Central Appraisal District. The appraisal district valued the assets at $90.8 million in 2020, down from $96.9 million in 2019.

The resort marketplace has been among the sectors of the economic system hit toughest by the coronavirus pandemic. Host Hotel’s acquire price reflects a 20% to 25% low cost relative to pre-COVID-19 pricing centered on the profits of 3 comparable Austin accommodations in between 2014 and 2019, Host Lodges said.