San Antonio's River Walk sees hotel sale
What happened
The Thompson San Antonio River Walk Hotel sold for $40.5 million in a public street-side auction, signaling investor confidence in the area’s hospitality sector.
Why it matters
The hotel, located at 123 N. St. Mary’s St., was sold to an unnamed buyer. The auction took place on a Tuesday and lasted less than 15 minutes. The sale included all the hotel's personal property, such as furniture, fixtures, and equipment. The auction happened due to a foreclosure, with Patriot American Hospitality LLC as the borrower. The minimum bid was set at $33.7 million, reflecting the unpaid principal, interest, and expenses. The property was previously appraised at $61 million, making the sale price a significant reduction.
Key numbers
- The Thompson San Antonio River Walk Hotel sold for $40.5 million in a public street-side auction, signaling investor confidence in the area’s hospitality sector.
- The auction took place on a Tuesday and lasted less than 15 minutes.
- The minimum bid was set at $33.7 million, reflecting the unpaid principal, interest, and expenses.
- The property was previously appraised at $61 million, making the sale price a significant reduction.
Sources
Quick answers
What happened in San Antonio's River Walk sees hotel sale?
The Thompson San Antonio River Walk Hotel sold for $40.5 million in a public street-side auction, signaling investor confidence in the area’s hospitality sector.
Why does San Antonio's River Walk sees hotel sale matter?
The hotel, located at 123 N. St. Mary’s St., was sold to an unnamed buyer. The auction took place on a Tuesday and lasted less than 15 minutes. The sale included all the hotel's personal property, such as furniture, fixtures, and equipment. The auction happened due to a foreclosure, with Patriot American Hospitality LLC as the borrower. The minimum bid was set at $33.7 million, reflecting the unpaid principal, interest, and expenses. The property was previously appraised at $61 million, making the sale price a significant reduction.
