White Lodging acquired the 251-room Marriott Plaza San Antonio from Ashford Hospitality Trust for $34 million. White Lodging, which also manages the hotel, plans to begin an extensive renovation in the summer of 2020.
White Lodging currently owns and/or operates more than 10 other hotels in Texas, with several more currently under construction, including the 613-room Austin Marriott Downtown opening summer 2020. It will also operate the Canopy by Hilton San Antonio River Walk, which is under construction and slated to open in mid-2020. Overall, it operates more than 90 hotels and 30 restaurants across 20 states.
"We see San Antonio as a growing market for us and this acquisition provides an array of value enhancement opportunities for guests, the community and our company," Deno Yiankes, president/CEO, investments and development at White Lodging, said in a statement. "When our extensive planned renovation is complete, the hotel will offer a completely differentiated and upscale experience like no other in downtown San Antonio.
The seven-floor Marriott Plaza San Antonio features 17,000 square feet of meeting space, a restaurant, a lounge, an outdoor pool, a poolside bar and a fitness center. It is located adjacent to La Villita Historic Arts Village and the 96-acre Hemisfair Park and a couple blocks from the city’s River Walk and the recently expanded Henry B. Gonzalez Convention Center.