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.
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.
