If the hotel did sell for its asking price, it would be the largest price paid for an Austin hotel. The Austin Business Journal reports Eastdil Secured is marketing the property for a value “north of $600 million.

The 1,048-room Fairmont is owned by Manchester Financial Group and Colony Capital.

The Fairmont generated more than $34 million in net operating income in 2022, according to loan servicer reports. That was up from about $8 million in 2021 and $6.2 million in 2020, during the peak of the Covid-19 pandemic — although just shy of the $35 million the luxury hotel made in 2019.

Mortgage documents indicate the property was appraised for $610 million in August 2019.

The Fairmont reached 73% occupancy in 2022 — up from 54% the year prior, according to loan documents.