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n a recent development, Hyatt has agreed to acquire Standard International for $335 million, which includes the acquisition of Bunkhouse Group, a company founded by Liz Lambert, known as Austin's "Queen of Cool." Bunkhouse Group is responsible for iconic properties like Austin Motel, Hotel St. Cecilia, and Hotel San José, as well as Jo's Coffee, a popular local spot on South Congress Avenue. Lambert's knack for blending historical elements with modern design is evident in projects like Carpenter Hotel in Zilker neighborhood and Hotel Magdalena, further enhancing the appeal of these properties.

    Hyatt's acquisition of Bunkhouse Group aligns with its strategic focus on enhancing its boutique and lifestyle offerings. In 2014, Standard acquired a 20% stake in Bunkhouse Group, which increased to 51% by 2022, the year Lambert left the company. Lambert joined MML Hospitality, which specializes in trendy restaurants but has recently embarked on a luxury residential development in Clarksville.

    Hyatt's acquisition of Bunkhouse Group's majority stake came with a real estate portfolio that included properties in Texas like Hotel Havana in San Antonio and El Cosmico in Marfa. The challenge for Hyatt will be to preserve the unique character of Bunkhouse properties while scaling their business model to fit a global platform. The "asset-light" approach suggests Hyatt's commitment to maintaining the distinctiveness of Bunkhouse hotels, which will continue to operate from Austin.

    Lambert's latest hospitality project in Marfa includes 3D-printed homes designed by Bjarke Ingels Group and Austin-based Icon. Meanwhile, Austin's $1.6 billion convention center overhaul has prompted a proposed hotel fee, while Austin's biggest hotel has secured a $430M CMBS loan. Pinnacle is pursuing a dense multifamily and hotel project near downtown Austin.