Hyatt Hotels has acquired its partners’ 92% stake in the Hyatt Regency Lost Pines Resort and Spa in Austin / Bastrop, Texas, for around $143m.

The company has also assumed around $65m of property-level debt.

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Hyatt Regency Lost Pines and Spa, which opened in 2006, is located on 405 acres along the banks of the Lower Colorado River between Austin and Bastrop.

The spa has been developed and owned by Bastrop Resort Partners, a Texas limited partnership including affiliates of Woodbine Development Corporation of Dallas, The Oklahoma Publishing Company, Cook Inlet Region of Anchorage and Hyatt Hotels Corporation of Chicago.

"Hyatt Regency Lost Pines is a sought-after destination by both leisure and group guests and has strengthened Hyatt’s presence in the Austin area." 

The resort holds more than 60,000ft² of indoor meeting space and 240,000ft² of outdoor function space.

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It also features pavilions and an amphitheatre, the Wolfdancer Golf Club, Spa Django, Crooked River Water Park, the Renegade Trailhead equestrian facility and the adjoining 1,100-acre McKinney Roughs nature park.

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Hyatt Hotels global head of capital strategy, franchising and select service Steve Haggerty said: "Hyatt Regency Lost Pines is a sought-after destination by both leisure and group guests and has strengthened Hyatt’s presence in the Austin area, where Hyatt has a broad spectrum of lodging experiences.

"This transaction is consistent with our strategy to focus our investing in key areas such as resorts and group-orientated hotels. The resort’s financial and operating success of this property has made it a key asset in our portfolio and whole ownership affords us greater control of its future."