Acquisitions & Hotel Openings

Miraval Group to Develop its First Destination Wellness Resort in Texas

NEW YORK, N.Y. December 26, 2016 - C Miraval Group today announced it has acquired the 220-acre Travaasa Austin Resort in the Hill Country of Texas, which it will redevelop and expand into a 120-room destination wellness resort, its first in Texas and the South.

The purchase, from a wholly owned subsidiary of Amstar Group LLC, closed today following the approval of Miraval's development plans. The project is expected to be completed by January 2019.

Miraval Group will renovate the existing inventory, add 50 rooms, more than double the spa space, expand the main restaurant and construct several facilities, including a unique equine experience that will be integral to the Miraval experience.

Steven A. Rudnitsky, Miraval Group president & chief executive officer, said the project would 'build on the momentum of the company's nationwide growth plan', following the opening earlier this year of the Miraval Life in Balance Spa at Monarch Beach Resort in Dana Point, California, and its announcement to redevelop the Cranwell resort in Lenox, Massachusetts.

"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", he said. "The campus is surrounded by protected lands, providing privacy and protection from distractions of the outside world. In addition, the existing staff is a good fit for the Miraval culture. We are delighted to welcome them to the Miraval family".

Rudnitsky said the acquisition will offer Miraval Group an 'exceptional opportunity to create an authentic Texas wellness experience', adding the company will incorporate the region's culture and architectural styles 'to create original experiences with dynamic well-being and personal development programs, one-of-a-kind spa treatments and flavorful and healthful cuisine'.

The resort will continue operating as Travaasa Austin throughout the redevelopment process and be relaunched as Miraval Austin in early 2019.

About Miraval Group

New York-based Miraval Group is a global leader in wellness resorts and spas. Miraval Arizona Resort & Spa in Tucson pioneered the destination wellness spa resort category with its comprehensive program of activities, experiences and personal treatments. The company is developing Miraval Life in Balance Spas and full-service Miraval destination wellness resorts concurrently in key national markets.

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Eco-Friendly Practices: The Value of Sustainability
The hotel industry continues to make remarkable progress in implementing sustainability policies and procedures in their properties throughout the world. As a result, they continue to reap the benefits of increased profitability, enhanced guest experiences, and improved community relations. In addition, as industry standards are codified and adopted worldwide, hotels can now compare how their operations measure up against their competitors in terms of sustainable practices and accomplishments. This capacity to publicly compare and contrast is spurring competition and driving innovation as hotels do not wish to be left behind in this area. Water management and conservation is still a primary issue as population growth, urbanization, pollution and wasteful consumption patterns place increasing demands on freshwater supply. Water recycling; installing low-flow fixtures; using digital sensors to control water usage; and even harvesting rainwater are just a few things that some hotels are doing to preserve this precious resource. Waste management is another major concern. Through policies of reduce, reuse and recycle, some hotels are implementing “zero-waste” programs with the goal of substantially reducing their landfill waste which produces carbon dioxide and methane gases. Other hotels have established comprehensive training programs that reinforce the value of sustainability. There is employee engagement through posters and quizzes, and even contests are held to increase innovation, sensitivity and environmental awareness. Some hotels are also monitoring a guest’s energy usage and rewarding those who consumed less energy with gifts and incentives. The May issue of the Hotel Business Review will document how some hotels are integrating eco-friendly practices into their operations and how they and the environment are benefiting from them.