HEI Hospitality, based here, acquired the Marriott Austin [Texas] for an undisclosed amount and reflagged it the Sheraton Austin Hotel Jan. 27.
HEI plans to invest $18 million into upgrading the hotel in two stages, with the first phase focusing on the hotel’s guest rooms and the second phase focusing on the rest of the hotel.
The 16-story venue is located within walking distance to Austin’s Sixth Street Entertainment District and contains 365 guest rooms and 17,000 square feet of meeting space.
