River Walk Hotel Sold at Auction
What happened
The Thompson San Antonio, a major River Walk hotel, was sold at auction for $40.5 million, reflecting confidence in the downtown hospitality market.
Why it matters
The hotel, located at 123 Lexington Ave., was sold to an entity called Three Wall Capital; the auction occurred on a sidewalk near the property. The sale included all the hotel's personal property and fixtures. The auction was prompted by the Thompson hotel's Chapter 11 bankruptcy filing in July 2023. The hotel had encountered financial difficulties due to the impact of the COVID-19 pandemic on the hospitality industry. Three Wall Capital plans to continue operating the Thompson as a luxury hotel. They are an experienced hotel operator with a portfolio of properties across the United States.
Key numbers
- The Thompson San Antonio, a major River Walk hotel, was sold at auction for $40.5 million, reflecting confidence in the downtown hospitality market.
- The hotel, located at 123 Lexington Ave., was sold to an entity called Three Wall Capital; the auction occurred on a sidewalk near the property.
- The auction was prompted by the Thompson hotel's Chapter 11 bankruptcy filing in July 2023.
- The hotel had encountered financial difficulties due to the impact of the COVID-19 pandemic on the hospitality industry.
What happens next
- Three Wall Capital plans to continue operating the Thompson as a luxury hotel.
Sources
Quick answers
What happened in River Walk Hotel Sold at Auction?
The Thompson San Antonio, a major River Walk hotel, was sold at auction for $40.5 million, reflecting confidence in the downtown hospitality market.
Why does River Walk Hotel Sold at Auction matter?
The hotel, located at 123 Lexington Ave., was sold to an entity called Three Wall Capital; the auction occurred on a sidewalk near the property. The sale included all the hotel's personal property and fixtures. The auction was prompted by the Thompson hotel's Chapter 11 bankruptcy filing in July 2023. The hotel had encountered financial difficulties due to the impact of the COVID-19 pandemic on the hospitality industry. Three Wall Capital plans to continue operating the Thompson as a luxury hotel. They are an experienced hotel operator with a portfolio of properties across the United States.
