Hotel Granduca, which opened in 2015 at 320 S. Capital of Texas Hwy., Austin, was previously owned by Interfin Cos., a Houston-based real estate development company.
The nine-story, 190,000-square-foot hotel sits on 38 acres and showcases 194 rooms and suites with Hill Country views.
Hotel Granduca is set to undergo a rebranding this summer under the hospitality group’s Meritage Collection, according to a news release from PHG.
According to the release, the purchase marks the company’s third hotel in Texas, including two Dallas-based hotels under the Marriott brand. PHG owns and manages 13 hotels throughout California and Hawaii, among other destinations.
“We are very excited to come in and operate this property in a city I love,” PHG President Paul McCormick said in the release.