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: 41 Years
As the firm’s Chairman and CEO, Lou Plasencia is responsible for The Plasencia Group’s business development activities and the oversight of all acquisitions, dispositions, and advisory engagements. He began his career with Hyatt Hotels Corporation over thirty years ago. After his departure from Hyatt, Lou spent a number of years growing the hospitality investment sales division of a major national commercial real estate firm.
A natural trailblazer, the father of three eventually left the corporate environment 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 cigar-making district as a young Cuban immigrant, living with his family in a one-room apartment. He is the son of a cigar factory worker who he says instilled in him the importance of “committing yourself to one thing and doing it ethically and 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 serving as a Student Affairs administrator at Indiana and then at St. Joseph’s University in Philadelphia, Lou landed a job in sales and marketing department at the Hyatt Regency New Orleans. He eventually returned to Tampa to oversee the development of the Grand Hyatt on the shores of Tampa Bay. From there, he launched a long and storied career in hotel investment sales and consulting and is recognized today as one of the most experienced hotel real estate advisors in the country.
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 Resort in Northeast Florida, PGA National in Palm Beach, the Beverly Hilton in Beverly Hills, and the Arizona Biltmore in Phoenix. Recognized for his integrity and deal savvy, he has served as a trusted advisor for Apollo Global, Brookfield Asset Management, Hilton Hotels Corporation, InterContinental Hotels & Resorts, MetLife Real Estate Investments, Starwood Capital, and Walton Street Capital. Other transaction and consulting clients include Bank of America, Blackstone Group, Host Hotels & Resorts, PGIM, RLJ Lodging Trust and countless family offices and 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 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: 40 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 $3 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, now AIG, 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: 11 Years
John Plasencia joined The Plasencia Group in 2014 and, as Managing Director, he works on the firm’s investment sales efforts from Tampa, Florida. In his role, he guides assets sales and is responsible for investor solicitation. John has been directly involved in the transaction of hundreds of lodging properties with a focus on Florida, Texas, and Louisiana. John previously served as Vice President and Senior Analyst with the firm.
Prior to joining The Plasencia Group, John worked in the Feasibility and Acquisitions 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 during John’s tenure, 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 is a graduate of Northwestern University. He is a loyal patron of Parasol’s in New Orleans and The Brisket Shoppe in Tampa. He lives in Tampa with his wife Ariel, a broadcast journalist, and Nori, their golden retriever.
“Hospitality is a service industry, and while we occupy a unique niche on the investment side of the industry, we work to provide a high level of service to our clients and help them achieve their investment goals.”
Dallas, Texas | Industry Tenure: 40 Years
Michelle Hayes has worked in virtually every facet of hotel operations throughout her nearly four decades in the lodging industry. She joined the firm after a successful career with FelCor Lodging Trust, one of the nation’s largest hotel real estate investment trusts. As Vice President of Asset Management at FelCor, Hayes was responsible for overseeing a portion of the company’s portfolio of Doubletree, Embassy Suites, Hilton, Marriott and Sheraton hotels as well as independent hotels. Michelle also has extensive multi-faceted resort experience in South Carolina and Florida specifically.
Prior to her joining FelCor, Ms. Hayes was a general manager for Starwood Hotels and Resorts managing numerous hotels for 15 years. These hotels included Sheraton Suites Alexandria and the Sheraton Gateway hotel in Atlanta, Georgia, in addition to the Sheraton Wardman Park in Washington DC. During her tenure with Sheraton, she was the recipient of the company’s President’s Award and Employee Satisfaction Award. In addition, Ms. Hayes was a member of Sheraton Corporation’s Chairman’s Club and Marketing Board of Directors.
Ms. Hayes received a master’s degree in management and finance and a bachelor’s degree from Murray State University in Murray, Kentucky. She also has received the designation of Certified Hotel Administrator (CHA) from The Educational Institute. Michelle has since completed the Cornell Business School Certification for Real Estate and Asset Management.
“The hotel business is really a simple business in many ways, although we often try to complicate it unnecessarily. Financial acuity is certainly critical, but focusing on people with compassion and empathy will always create value in the end”
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, all along making sure they stay within schedule and budget targets. Doug’s personal involvement in solving problems and issues for each project typically puts him down in the trenches with his project managers working out solutions.
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 and Aloft Hotels in San Francisco, and the Renaissance Des Moines Savery Hotel
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.
When not making construction dust, Doug can usually be found making sawdust building custom acoustic guitars and ukuleles in his spare time.
“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.”