In 1962, the only hotel situated on the San Antonio River Walk was a popular destination. However, due to Covid-19, it has been temporarily closed and faced several setbacks since then. Fortunately, a group of three investors consisting of Trestle Studio, private equity firm Spores Capital and Austin investor The Town Lake Company have acquired the property at 110 Lexington Ave with plans for a full restoration.
The acquisition details remain undisclosed but reports state that The Ardent Companies has provided a $15.15 million loan as part of the deal. Under new ownership, there are plans for complete renovation and rehabilitation of this resort property.
The team aims to enhance guest experience by constructing a riverside patio with deck access and installing an updated staircase connecting to the River Walk. Additionally, modifications will be made to improve rooftop pool facilities.
Experience rejuvenation at San Antonio’s El Tropicana under new ownership – Connect CRE
