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Property Information
830 North Saint Mary’s Street, San Antonio, Texas 78205
Guestrooms: 149, inclusive of five suites
Year Opened/Renovated: 1998/2009
The Plasencia Group is pleased to present for your investment consideration the Hotel Indigo situated on San Antonio’s famous Riverwalk. The 149-room Hotel Indigo is located across the San Antonio River from the Tobin Center for the Performing Arts and adjacent to the pending 167-room Thompson Hotel. While InterContinental Hotels Group is fully prepared to relicense the hotel as a Hotel Indigo, various Marriott and Hilton brands are worthy of consideration, as is an independent operating model based on the hotel’s Riverwalk location. With the combination of San Antonio’s 300th anniversary celebration in 2018 and an active convention calendar through 2021, this investment opportunity presents substantial upside potential.
Investment highlights:
- Location – San Antonio’s famous Riverwalk: The Hotel Indigo is located along San Antonio’s famous Riverwalk, one of Texas’ most popular tourist destinations, and is less than a 15 minute walk from the state’s number one single tourist attraction, The Alamo.
- San Antonio: The nation’s seventh largest city continues to attract tourists and conventions and is approaching a year-long tricentennial celebration in 2018.
- Market performance: During the first three months of 2017, San Antonio
hotels advanced RevPAR by 9.5% over the first quarter of 2016. During the twelve-month period ending as of March 2017, San Antonio’s hotel sector registered a RevPAR improvement of approximately 5%. - Hotel performance: During the twelve-month period ending March 2017, the Indigo recorded room revenue of approximately $4,600,000 and total revenue in excess of $5,500,000. Even in its dated condition, this hotel registered a RevPAR Index of approximately 88% during the March 2017 T-12 period.
- Renovation / possible re-brand opportunity: InterContinental Hotels Group has issued a Change of Ownership Product Improvement Plan to relicense this lodging establishment as a Hotel Indigo. While the hotel has a strong operating track record as part of the Hotel Indigo brand, various Hilton and Marriott brands are worthy of discussion and evaluation. Additionally, the Riverwalk location allows for a full evaluation of the hotel as an independent lodging establishment.
- Sale terms:
- The Hotel Indigo – San Antonio Riverwalk is being offered to the investment community free and clear of its existing management agreement as well as its current franchise agreement.
- Current ownership will only evaluate all-cash indications of interest as no seller financing will be offered and no in-place debt facility is available for assumption.