The InterContinental hotel opens with dining options in downtown San Antonio, adding to the expanding supply as the area is still recovering from the pandemic.
Three years after shuttering the aging Wyndham hotel on the River Walk , Scarlett Hotel Group and Trailbreak Partners have finished converting it to a luxury InterContinental hotel. Buying and renovating the 21-story hotel at 111 E. Pecan St. , which is the first InterContinental property to open in the U.S. in five years, cost about $158 million.
More hotels, including $37 million Residence Inn, to be built around Pearl The owners added a pool, cabanas and seating options to a previously empty rooftop area. The hotel also has nearly 19,000 square feet of meeting space, a fitness center, a Club InterContinental lounge and a house car, a Sequoia Platinum vehicle built at the Toyota Motor Manufacturing Texas Inc. factory on the city’s South Side.
'Project Marvel': City’s downtown plans are much bigger than a Spurs arena. So is likely price tag. InterContinental general manager Stefan Gruvberger said he expects some customers at the hotel’s restaurants and bars to be employees working at office buildings and residents at developer Weston Urban’s 300 Main apartment complex across the street, since there are few options for dining and drinking in the area. “It’s important for this part of town,” Gruvberger said.
New Kimpton hotel downtown will have steakhouse, rooftop bar The Wyndham and other hotels downtown were hit hard by the pandemic, which brought leisure and business travel to a screeching halt. The 410-room Wyndham had an occupancy rate of 39% and generated revenue per available room of $38.77 in 2020, or half of what it posted in 2019, according to San Antonio-based hotel consulting firm Source Strategies.
River Walk property for boutique hotel sells at foreclosure auction Hotels downtown have not fully rebounded from the pandemic. The number of room nights sold was down 15.7% and occupancy was down 13% in 2023 compared with 2019, while revenue per available room was up 7.3% and average daily rates were up 27.4% over the same period, according to Source Strategies. “Leisure travel is still pretty strong. It’s the group and convention travel that is still lagging,” Vaughn said.
Trailbreak Partners Weston Urban Scarlett Hotel Group Intercontinental Hotels Group City Spurs National Bancshares Corp. Sequoia Platinum Toyota Motor Manufacturing Texas Inc. What's Brewing Cypress Real Estate Advisors Peachtree Group Merritt Development Group East Grayson Mccombs Enterprises Doug Elenowitz Paul Vaughn Pearl Stefan Gruvberger Scarlett Cavalier San Antonio 111 E. Pecan St. IHG Hotels Intercontinental Kimpton Hotel River Walk Wyndham U.S. Crown Plaza Hotel Club Intercontinental Austin Resorts Adams Mark Residence Inn Monarch San Antonio Denver Nashville Tenn. Chicago South Side South Alamo Street San Antonio River North Alamo Main Plaza Atlanta San Antonio Museum Of Art Houston Dallas Trailbreak RELATED Deco Bar Rosebelly Coffee Source Strategies High Praise The Wyndham New Kimpton RELATED: 'Project Marvel
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