Business digest: Austin-based credit card issuer CreditShop acquired


ACQUISITIONS

Austin-based credit card issuer CreditShop acquired

Austin-based CreditShop, which earlier this year acquired a $1.6 billion credit card portfolio to become one of the country’s 25 largest MasterCard and Visa issuers, has been acquired by a global investment firm, according to a release issued Monday.

The release said Värde Partners, a $13 billion alternative investment firm with regional headquarters in Minneapolis, had added CreditShop to its portfolio. Financial terms were not disclosed.

CreditShop provides credit cards and other specialty financial products to prime and near-prime customers. It acquired the large MasterCard and Visa portfolio from Barclaycard in March, and on Monday the firm said it will continue with plans to launch its own branded credit cards next year.

TRAVEL

New Hilton Garden Inn opens near Austin airport

A new hotel has opened near Austin-Bergstrom International Airport.

The Hilton Garden Inn Austin Airport, at 7610 John Glenn Way, has 149 guest rooms, according to city planning documents. Those same documents indicate the hotel cost $9.8 million to build.

Amenities include a fitness center, outdoor pool, patio, fire pit, 4,000 square feet of event space, 24-hour convenience store selling grab-and-go foods and the Garden Grille & Bar.

A complementary shuttle takes guests to the airport and other destinations located within 3 miles of the hotel.

The Hilton Garden Inn Austin Airport is one of seven new properties the hotel chain has recently opened across the country. Worldwide, there are 760 Hilton Garden Inn locations.



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