New Owner, New Name for Travaasa Austin Resort
- Dec 27, 2016
Austin, Texas—Miraval Group, a New York-based wellness resort operator, has entered the Texas market with the recent acquisition of the Travaasa Austin Resort. The 70-room resort was purchased from a wholly owned subsidiary of Amstar Group, a real estate investment management company headquartered in Denver, Colo. Terms of the transaction remained undisclosed.
The new acquisition is part of Miraval’s national growth plan that also includes the Miraval Life in Balance Spa at Monarch Beach Resort in Dana Point, California and the redevelopment of the Cranwell resort in Lenox, Massachusetts
Miraval plans to redevelop the property—which is located at 13500 Farm to Market Road in the Balcones Canyonlands Preserve—into a destination wellness resort. This will be the company’s first foray into the Texas and South markets. Se.t for completion in January 2019, the upgraded property will offer 120 rooms, an expanded main restaurant and an equine facility that will be integrated into the resort experience.
The resort will continue to operate as Travaasa Austin throughout the redevelopment and expansion process, and will be rebranded into Miraval Austin.
“We selected Travaasa Austin for a host of reasons, including its hilltop location that provides extraordinary views of Lake Travis and a sense of place,” said Steven A. Rudnitsky, Miraval Group president & chief. “The campus is surrounded by protected lands, providing privacy and protection from distractions of the outside world ─ key attributes of the Miraval Experience. In addition, the existing staff is a good fit for the Miraval culture. We are delighted to welcome them to the Miraval family.”
Image via travaasa.com