California Investors Acquire San Antonio’s Iconic Hyatt Regency Riverwalk Hotel for $230M
San Antonio’s Historic Hyatt Regency Riverwalk Hotel Snagged for $230M
San Antonio, TX – One of San Antonio’s most prestigious and well-located hotels, the Hyatt Regency Riverwalk, is set to change hands. A significant real estate deal has been disclosed where California-based Sunstone Investment Group is set to acquire the iconic hotel for a staggering $230 million.
Strategic Asset with Unique Prospects
The deal represents a strategic purchase for the Californian group, controlling an asset located in one of the city’s most sought-after locales. With ample rooms and a strategic address between the River Walk and Alamo Plaza, the 630-room hotel at 123 Losoya St. represents a prized acquisition.
The proximity to the most visited tourist destinations in Texas gives the investment an edge. More so, the hotel stands close to the ambitious Alamo Visitor Center and Museum project, a $500 million venture that promises to add even more alluring potential to this premium asset’s location.
Renovation Boosts Appeal
The Hyatt Regency San Antonio Riverwalk recently underwent a substantial $37 million revamp. This massive upgrading effort modernized all guest rooms and suites, many with open-plan layouts. This extensive renovation contributes to the hotel’s appeal to the new owners, as it requires little near-term financial investment. The acquisition also includes nearly two acres of riverfront land and a capacious 516-space parking garage, adding significant value to the deal.
Investors Respond
“This is the best-located hotel in the city,” said Bryan Giglia, Sunstone’s CEO. He added that the hotel’s favorable location allows it to draw from a desirable mix of group and individual visitors. San Antonio is experiencing positive demographic shifts, increasing demand for hotels, and business-friendly policies that all aligned to make this acquisition a compelling prospect.
Real Estate Outlook
The purchase of the Hyatt Regency Riverwalk is a strong indication of the robust real estate market in San Antonio, especially the premium sector. As the city continues with various developmental and rejuvenation projects, more real estate assets are likely to draw attention, promising an exciting, dynamic future for the city’s skyline.