AUSTIN—Earlier this week, Strategic Hotels & Resorts Inc., owner of 18 high-end luxury resorts and hotels around the country, announced its intention to acquire the Four Seasons Austin in a $197-million deal. Marking its entrée into the Texas market, Chicago-based Strategic was drawn to Austin's growth and the ability to strengthen its geographic reach. GlobeSt.com's Anna Caplan recently spoke with Rip Gellein, Strategic's chairman and CEO, to learn more about the deal.

GlobeSt.com: What made the hotel such a desirable buy?

Rip Gellein: We are thrilled to have the opportunity to acquire the Four Seasons Austin. Simply put, this is a beautiful hotel in a desirable location in one of the nation's fastest-growing markets. As with any acquisition we make, we prefer high-end, complex hotels with revenue streams that feed off of multiple demand drivers. In this case, Austin is both a tourist and business destination, driven by an extremely diverse economy, very strong job growth and many well-known events and local attractions. We also look to acquire assets where we can create additional value through our asset management platform. The Four Seasons Austin is a well-maintained property, having recently gone through a guest-room renovation. As we look forward, we will carefully examine additional possibilities to drive value.