Dallas-based Mohr Capital has experience with office, industrial and retail projects, but hasn’t taken a stab at the hospitality business. Until now. The investment firm bought the 350-room DoubleTree Hilton in Austin. “This is the beginning of the a new vertical for Mohr Capital, and we anticipate further investments in the hospitality industry, “says Chairman Bob Mohr.

CBRE research says Austin is among the three top U.S. markets for attracting hotel development. Austin is forecast to see the greatest gains in demand while enjoying the greatest percentage in occupancy.

Mohr’s Rodrigo Godoi says this type of hotel has the most potential, “We believe we are entering the golden age of group meetings and travel, and suburban full-service hotels have a competitive advantage in the meeting space they offer.”

The DoubleTree is three miles from both downtown and the University of Texas at Austin.

The seller of the hotel and the sales price was not disclosed.