San Antonio's River Walk hotel sold
What happened
The Thompson San Antonio River Walk Hotel sold at auction for $40.5 million, signaling investor confidence in the city's tourism sector.
Why it matters
The hotel, located at 123 Lexington Ave., was sold on the Bexar County Courthouse steps. The auction occurred on March 5 after the previous owner, HN Riverwalk LP, filed for bankruptcy. The sale price reflects a significant loss compared to the property's valuation several years ago. In 2021, the 20-story hotel was valued at $114 million. The buyer was not immediately identified at the auction. Details about their plans for the hotel are still unknown. The auction signals potential distress in San Antonio's hotel market. High interest rates and concerns about property values may be contributing factors.
Key numbers
- The Thompson San Antonio River Walk Hotel sold at auction for $40.5 million, signaling investor confidence in the city's tourism sector.
- The hotel, located at 123 Lexington Ave., was sold on the Bexar County Courthouse steps.
- The auction occurred on March 5 after the previous owner, HN Riverwalk LP, filed for bankruptcy.
- In 2021, the 20-story hotel was valued at $114 million.
What happens next
- Details about their plans for the hotel are still unknown.
- High interest rates and concerns about property values may be contributing factors.
Sources
Quick answers
What happened in San Antonio's River Walk hotel sold?
The Thompson San Antonio River Walk Hotel sold at auction for $40.5 million, signaling investor confidence in the city's tourism sector.
Why does San Antonio's River Walk hotel sold matter?
The hotel, located at 123 Lexington Ave., was sold on the Bexar County Courthouse steps. The auction occurred on March 5 after the previous owner, HN Riverwalk LP, filed for bankruptcy. The sale price reflects a significant loss compared to the property's valuation several years ago. In 2021, the 20-story hotel was valued at $114 million. The buyer was not immediately identified at the auction. Details about their plans for the hotel are still unknown. The auction signals potential distress in San Antonio's hotel market. High interest rates and concerns about property values may be contributing factors.
