Tampa, Fla. (December 4, 2017) – The Plasencia Group is pleased to announce the sale of the Hotel Indigo located in the Riverwalk district of San Antonio, Texas. The firm represented LNR Property in the sale of the 149-room hotel to Phoenix Hospitality Group, a San Antonio-based hospitality investment, development and management company.
The Plasencia Group’s Senior Vice President Robert Wiemer and Vice Presidents Paul Williams and Joe Corcoran advised the client in this disposition.
“The new owners of this asset will be able to capitalize on its tremendous potential as a prominent lodging destination in San Antonio’s thriving Riverwalk district,” commented Robert Wiemer. “As one of Texas’ most popular tourist destinations, San Antonio’s entire Riverwalk complex offers walkability that leisure and business travelers alike can enjoy.”
Paul Williams, Vice President of The Plasencia Group, added, “With the combination of San Antonio’s tercentennial celebration in 2018 and a packed convention calendar through 2021, this investment presented substantial upside potential for the new owner.”
The Plasencia Group has successfully completed disposition engagements for 91 hotel and resort assets in Texas and 48 IHG-branded hotels nationally since 1997.