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.
- 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.
Tampa, Florida | Industry Tenure: 39 Years
Lou Plasencia is The Plasencia Group’s entrepreneurial leader, an affable host, and a gregarious family man with an ironclad commitment to the hospitality industry. As the firm’s Chairman and CEO, Lou is responsible for business development activities and the oversight of all acquisitions, dispositions, and consulting engagements. He began his career with Hyatt Hotels Corporation over thirty years ago. After his departure from Hyatt, Lou spent a number of years in hospitality investment sales with a major national commercial real estate firm.
A natural trailblazer, the father of three eventually grew weary of the corporate environment and decided in 1993 to launch his own firm – The Plasencia Group, a boutique alternative to corporate hotel brokerage. The close-knit firm was born out of passion and sheer gumption. The oldest of three siblings, Lou arrived in Tampa’s Ybor City as a young Cuban immigrant, living with his family in a one-room apartment. He is the son of cigar factory worker who he says instilled in him the importance of “committing yourself to one thing and doing it better than anyone else.”
As an undergrad at Loyola University in New Orleans, he studied psychology and broadcast media before going on to get his Master’s in Education from Indiana University. After a brief stint in as a Student Affairs administrator at St. Joseph’s University in Philadelphia, Lou landed a job in Hyatt’s sales and marketing department in New Orleans. He eventually returned to Tampa to oversee the development of the Grand Hyatt Hotel on the shores of Tampa Bay and from there, launched a long and storied career in hotel investment sales and consulting.
During his three-plus decades as the face of The Plasencia Group, Lou has steered a plethora of heavy-hitting hospitality deals, including one-off transactions and major portfolio disposition engagements. Over the years, he has brought together owners and investors for the InterContinental Hotels in Chicago and Miami, the Four Seasons in Atlanta, Amelia Island Plantation in Northeast Florida, and the Arizona Biltmore in Phoenix. Recognized for his integrity and deal savvy, he has served as a trusted advisor for MetLife Real Estate Investments, InterContinental Hotels & Resorts, Brookfield Asset Management, and Walton Street Capital. Other transaction and consulting clients include AEW Capital Partners, Bank of America, Blackstone Group, PGIM, and countless high-net-worth hotel and resort owners.
Lou is an active member of the Hospitality Investment Roundtable of the AHLA. He serves on the Boards of Directors of the Florida Council of 100, the Hillsborough County Tourist Development Council, the Advisory Board for Visit Tampa Bay, and chairs the School Advisory Council of St. Lawrence Parish in Tampa. He previously served on the Board of Trustees of Jesuit High School (Tampa).
A longtime resident of Tampa, he is proud to work alongside his three sons (Chris, Nick and John) in the family business. Lou has been married for nearly four decades to his wife Jennifer, with whom he enjoys cooking, traveling and playing “off the grid.” If he doesn’t answer his cell phone, it’s because he’s out fishing or hiking a forest.
“One of my favorite words in my native Spanish is “confianza”. It’s the close trust that builds in a friendship over time. It’s the very real affection we have for our longstanding clients. It’s also something we work hard to earn and, most importantly, it lasts a lifetime.”
Houston, Texas | Industry Tenure: 28 Years
Robert Wiemer is The Plasencia Group’s resident power broker. As Senior Managing Director of The Plasencia Group’s Southwest Region, Wiemer has a storied reputation among Texas hoteliers. The Houston-based executive has coordinated the disposition of over $2 billion in hospitality sales – more than any other person in the Lone Star State. His greatest hits collection includes the sale of the New Orleans Embassy Suites, Houston InterContinental Airport Sheraton, Houston Galleria DoubleTree Suites, InterContinental Houston Galleria and a portfolio of Marriott-branded hotels in the New Orleans area.
Prior to joining The Plasencia Group in 1994, Robert served as the Director of Asset Dispositions at American General Corporation, where he once again exceled, leading investment sales in hotels, office buildings, retail centers, apartments and industrial investments for brands such as Embassy Suites, DoubleTree, Marriott and Holiday Inn.
The Louisiana native has devoted most of his career to asset management and dispositions. He honed his business acumen managing bank-owned real estate properties, first for First Republic Bank Houston and later for Collecting Bank, NA, a division of First City Bank-Texas. He graduated from Louisiana State University in Baton Rouge with a Bachelor’s Degree in Economics and Master’s of Business Administration.
A straight-shooting Southern gentleman, Robert is a natural extrovert and a rabid New Orleans Saints fan. He spends his free time volunteering at charity crawfish boils around Houston and hunting birds in exotic countries with his four children.
“It doesn’t matter if you’re selling hotels or widgets. The more time you put into it, the better your return. We’re a small firm competing against national and international firms. We excel on the service side. I think we substantially outperform based on our size.”
Tampa, Florida | Industry Tenure: 34 Years
Doug Mills grew up in Panama City, Florida, and after a long tenure managing construction projects around the world, many of them in cold-weather climates, he’s finally made it back to the Sunshine State. In February 2020, Doug joined The Plasencia Group as Senior Managing Director of the firm’s Development Management Consulting team.
Doug advises The Plasencia Group’s clients on renovation and new construction projects, including property improvement plans, brand conversions, and property evaluations. He oversees the design construction projects from start to finish, top to bottom. “We orchestrate and manage the process from soup to nuts,” Doug says, “all along making sure it stays within the budget envelope.”
Doug supervises construction managers contracted for each project, which often finds him with boots on the ground at project sites.
Prior to signing on with The Plasencia Group, Doug served as president of Schulte Design + Construction, an esteemed hospitality design, construction and project management firm based in Louisville, Kentucky. During his tenure, he oversaw renovations and upgrades across a variety of top hotel brands, including the Westin in San Francisco, the Moxy New Orleans and the Renaissance Des Moines.
Doug has managed well over a hundred major projects across all asset classes during his 34-year career. He spent more than a decade in Asia, steering projects in Macau (building its international airport), the Philippines (a $5 billion, 300-acre redevelopment of a former U.S. military base) and South Korea (Hansol corporate headquarters), among others.
As a youngster in Panama City, Doug loved building things. He repaired and refinished antique furniture during his teen years. Doug matriculated at Johns Hopkins University in Baltimore, intending to go into the medical field. He changed course and transferred to Tulane University in New Orleans, where he earned a Bachelor of Arts in Architecture and then a Master of Business Administration.
While at Tulane, he met his wife, Marda, who grew up in Michigan. During their courtship, the couple agreed they would settle down in a warm-weather city. But Doug’s first construction management job out of school landed them in Chicago. After the time in Asia, the Mills’ returned to Chicago for six years, then relocated to Louisville.
“It took a while, but I finally made good on my promise of a warm-weather climate,” Doug says of joining The Plasencia Group in its Tampa headquarters and moving to the area.
The Mills’ have three children: one a recent college grad, one a current student at University of Alabama, and one a senior in high school in Louisville.
Doug, who lives in St. Petersburg with Marda, has turned his long-time way with wood into a passionate avocation — building acoustic guitars and ukuleles. He plays both instruments at level he calls “passable.”
Not long ago, Doug took up another hobby — a form of calligraphy called English Round Hand, the style used for the Declaration of Independence. “My form is getting pretty good,” he says. “I want to start sending people little handwritten notes.”
“I was drawn to The Plasencia Group for a lot of reasons, but foremost it was their outstanding long-term client relationships, passion and integrity. Combining my contacts and project experience around the world with the team’s will mean we can take our development management consulting business to the next level.”
Miami, Florida | Industry Tenure: 28 Years
Tony Haddad has been active in the hospitality finance arena for the past three decades. Tony brings to the table years spent in hotel operations working as Director of Finance and as a regional executive responsible for a portfolio of hotels for Marriott International. Tony has extensive experience in domestic and international hotels in the Caribbean, Mexico and Central and South America.
After leaving Marriott, Tony formed his own asset management and consulting firm, Thames Associates, LLC.
In 2013, he became part of The Plasencia Group’s team. He holds a B.B.A. degree from the McCombs School of Business at The University of Texas at Austin. A dedicated cyclist, he kicks off each workday with a group bike ride through suburban Broward County and also enjoys riding his motorcycle on the weekends.
“You’re dealing with an industry that caters to happy people on vacation. It’s multifaceted and always changing. There’s creativity and design. You walk into something new, you learn about it, you opine about it and then move onto the next one.”
Dallas, Texas | Industry Tenure: 48 Years
Paul Williams got his start in hospitality the old fashioned way – by working as a front desk clerk at a 63-room motel in Bastrop, Louisiana. A natural people pleaser and self-described jack-of-all-trades, he juggled everything from waiting tables to making maintenance calls. It wasn’t long before the likeable concierge became a full-fledged innkeeper. At the age of 20, he was the Innkeeper of the Holiday Inn in Monroe, Louisiana.
Since then, Paul has scaled the corporate ladder, amassing 48 years of industry leadership at a bevy of high-profile hotel chains. Before joining The Plasencia Group in 2004, he held executive-level positions with Mariner Hotel Group, MHM Hotels, and ITT Sheraton, where he was responsible for overseeing the operation of 34 hotels and 7,000 rooms across the entire Southwest region.
After serving as an executive with Karena Hotels PLC of England, Paul worked in growth management and franchise development at Starwood Hotels and Resorts Worldwide before launching a career in hospitality real estate brokering at Sun Hospitality Advisors.
As Vice President of The Plasencia Group’s Southwest Region, Paul works from Dallas, Texas, supporting investment sales efforts in a market with which he is well acquainted. His time working on the ground floor of hotel operations, specifically in Texas, has given him an edge in sizing up his clients’ competition.
“I know the history in this part of the country,” Paul says. “I can analyze the market and look at competitors from an experience standpoint, instead of just in theory. Being an operator has given me insight that other people don’t have.”
Paul has been married for 45 years. He has two daughters and three granddaughters—six, four and one years of age. A longtime hunter and avid fisherman, Paul loves to spend time outdoors and used to compete in bass fishing tournaments. He likens these angling competitions to landing business deals, in that your success is measured by the size of your catch.
“I know the history in this part of the country. I can analyze the market and look at competitors from an experience standpoint, instead of just in theory. Being an operator has given me insight that other people don’t have.”
Dallas, Texas | Industry Tenure: 8 Years
The youngest of three brothers, John joined The Plasencia Group in 2014. As one the firm’s Vice Presidents, he works on The Plasencia Group’s Southwest Region investment sales efforts from Dallas. In his role, he guides marketing processes and is responsible for investor solicitation. John has been directly involved in the transaction of well over $1 billion in lodging properties, ranging from high-end select service hotel portfolios to sprawling waterfront resorts.
Prior to joining The Plasencia Group, John worked in both the Feasibility and Business Development departments at Interstate Hotels & Resorts, a global hotel management company that has since merged with Aimbridge Hospitality. Interstate, which was the largest hotel operator in the world, proved the ultimate training ground for an aspiring hotel advisor. During his time with Interstate, John facilitated the procurement of numerous hefty management contracts, in addition to the acquisition of other hotel management companies.
John graduated from Northwestern University, where he studied marketing and played football. He is a loyal patron of Majoria’s Commerce Diner in New Orleans and Terry Black’s Barbecue in Dallas. He is known around the office for pairing business suits with colorful socks. He lives in Dallas, Texas, with his wife Ariel, a broadcast journalist, and Nori, their golden retriever.
“I am lucky to work with our well-established and highly regarded team in Texas,” John says. “In the course of my work, I get to constantly learn while also adding value with the knowledge I’ve gained through years of work in the hotel investment environment.”