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Dallas firm buys The Driskill hotel in downtown Austin from Hyatt

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Dallas firm buys The Driskill hotel in downtown Austin from Hyatt

Hyatt has sold downtown Austin’s oldest hotel for $125 million. The Driskill has seen its finances improve significantly since the doldrums of the pandemic, although like many high-end downtown hotels that rely on business travel, it still has fewer rooms occupied than three years ago, said Paul Vaughn, a senior vice president at Source Strategies.