The Lakeway Resort and Spa, famous for its views of Lake Travis, is regarded by some as one of the area's most luxurious getaways. The Dow Hotel Company and The Carlyle Group's Carlyle Realty Partners VI saw just that and aim to give the Lakeway staple a makeover in 2013.

In 2012, the companies acquired the 12-acre resort and spa, and soon after announced millions of dollars would be spent on renovations. The hotel is now seeing the results of those efforts—from upgraded meeting and guest rooms to the highly anticipated opening of the resort's new steakhouse.

Some of the work has already been completed; such as the installation of heaters in the resort pools, including the Little Devil's Cove pool for children, which keep the waters between 83 degrees and 87 degrees.

Beginning around March, the meeting rooms are scheduled to be modernized with a fresh, clean look.

"Our meeting rooms are being upgraded with new carpet, lighting, wall coverings and new furniture," General Manager Bob Kisker said. "We're re-doing our lobby, all the furniture, rugs and lighting, and the front desk area."

Kisker says the first week of May is a strong tentative date of completion for most of the upgrades, if everything goes according to schedule. Guest rooms are to get a makeover as well, but not until the end of the year. However, there is a definite highlight of all the renovations, Kisker said.

"Opening the Masterson's Steakhouse is the most exciting thing that will happen right off the bat," he said.

The total tally for the resort and spa spruce-up is between $5 million and $6 million, he said.

Amenities

• 174 luxury guest rooms, suites and villas
• More than 24,000 square feet of flexible meeting and function space for both business and leisure groups
• The San Saba Spa
• A full range of water activities
• 24 outdoor tennis courts
• Two indoor, climate-controlled tennis courts