for Lakeway Inn Conference Resort in Austin, Texas
by New Owners, Behringer Harvard Funds
|Montvale, NJ (February 22, 2005) -- Dolce International has been
awarded the management contract for Lakeway Inn Conference Resort in Austin,
Texas by new owners, Behringer Harvard Funds of Dallas, Texas.
The 239-room Lakeway Inn will undergo an extensive re-development and re-positioning over the next 12-18 months. "Lakeway Inn Conference Resort is brimming with potential," said Jon Dooley, Behringer Harvard's senior vice president of real estate. "We are committed to restoring it to a level of prominence that will enable it to effectively compete with the major four- and five-star resorts in the region."
Dolce International is returning as the management company. Dolce managed Lakeway from 1985 until 2002. Andy Dolce, Chairman and CEO, said, "We are thrilled to return to Lakeway and partner with Behringer Harvard to realize our shared vision of a premier Texas Resort and Conference Destination."
Occupying just over 16 acres, Lakeway Inn encompasses some of the most valuable real estate in Texas on the shores of Lake Travis. Often referred to as the crown jewel of the Texas Riviera, the historic Inn has long been a preferred meeting and vacation spot for Texans, especially those coming from Houston and Dallas.
Presently the Inn has 239 guest rooms in the six-story hotel tower and guest cottages. The property offers 20,000 square feet of meeting space, a full restaurant, and cocktail lounge/game room. Guests can enjoy golf, water activities, tennis and many other activities offered throughout the growing Lakeway community.
"Having the right marketing and operating partner at Lakeway is instrumental to the development meeting our investment objectives," said Robert Behringer, chairman and CEO of Behringer Harvard. "We felt Dolce's prior experience with Lakeway and years of success with similar high quality properties made them an obvious choice for this key assignment."
Lakeway Inn is located 18 miles west of Austin and is a 40-minute drive from Austin Bergstrom International Airport. In addition to Lakeway Inn, Dolce's current Texas portfolio consists of American Airlines Training & Conference Center in Dallas/Fort Worth and The Warwick in Houston.
About Behringer Harvard:
About Dolce International:
Director of Marketing and Public Relations
|Also See:||Lend Lease Real Estate Investments Appoints Interstate Hotels & Resorts to Manage the Lakeway Inn Conference Resort in Austin, Texas / Jan 2003|
|Lakeway Inn, Owned by Lend Lease Real Estate Investments and Managed by Dolce International, Completes $20+ million Expansion and Renovation / Mar 2000|