Braniff International Hotels, Inc., a division of Braniff Airways, Inc., of Dallas, Texas, bought the hotel in 1972 and began a $350,000 restoration of the grand lobby of the historic facility. Braniff reopened the hotel to customers on January 15, 1973, to very strong bookings and conference business. Braniff threw an official grand reopening celebration on February 10, 1973. Over 1000 guests attended the gala event that included a parade of every Texas Governor and/or their descendants, since 1886. All proceeds from the event went to the Austin Heritage Society, who was strategically instrumental in the resurrection of the Hotel Driskill.