River Walk hotel sold at auction
What happened
The Thompson San Antonio River Walk Hotel sold for $40.5 million in a street-side auction, signaling confidence in the downtown hospitality market.
Why it matters
The hotel, which opened in 2021, was part of a dual hotel-condominium tower project valued at $130 million. The 20-story building also includes 59 condos called the Arts Residences, but these were not part of the foreclosure sale. Southern Realty Trust took ownership after Houston-based DC Partners, the previous owners, defaulted on a $44 million loan they had taken out in 2024. DC Partners cited increased competition, high interest rates, and lower-than-expected bookings as factors that led to the default. Despite the change in ownership, operations and service levels at the hotel are not expected to change. The Thompson is affiliated with Hyatt and features 162 rooms and 33 suites, along with amenities like Landrace restaurant and the Moon's Daughter rooftop bar. The auction took place on the lawn between the Paul Elizondo Tower and the Bexar County Courthouse. Lawyer James Rogers oversaw the sale, with a representative from Southern Realty Trust making the winning bid.
Key numbers
- The Thompson San Antonio River Walk Hotel sold for $40.5 million in a street-side auction, signaling confidence in the downtown hospitality market.
- The hotel, which opened in 2021, was part of a dual hotel-condominium tower project valued at $130 million.
- The 20-story building also includes 59 condos called the Arts Residences, but these were not part of the foreclosure sale.
- Southern Realty Trust took ownership after Houston-based DC Partners, the previous owners, defaulted on a $44 million loan they had taken out in 2024.
What happens next
- DC Partners cited increased competition, high interest rates, and lower-than-expected bookings as factors that led to the default.
- Despite the change in ownership, operations and service levels at the hotel are not expected to change.
Sources
Quick answers
What happened in River Walk hotel sold at auction?
The Thompson San Antonio River Walk Hotel sold for $40.5 million in a street-side auction, signaling confidence in the downtown hospitality market.
Why does River Walk hotel sold at auction matter?
The hotel, which opened in 2021, was part of a dual hotel-condominium tower project valued at $130 million. The 20-story building also includes 59 condos called the Arts Residences, but these were not part of the foreclosure sale. Southern Realty Trust took ownership after Houston-based DC Partners, the previous owners, defaulted on a $44 million loan they had taken out in 2024. DC Partners cited increased competition, high interest rates, and lower-than-expected bookings as factors that led to the default. Despite the change in ownership, operations and service levels at the hotel are not expected to change. The Thompson is affiliated with Hyatt and features 162 rooms and 33 suites, along with amenities like Landrace restaurant and the Moon's Daughter rooftop bar. The auction took place on the lawn between the Paul Elizondo Tower and the Bexar County Courthouse. Lawyer James Rogers oversaw the sale, with a representative from Southern Realty Trust making the winning bid.
