Trestle Studio has secured a $79 million construction loan from Fortress Credit Co. to move forward with their plans to renovate the renowned El Tropicano Hotel. The 308-room property, which was acquired by Trestle Studio and Austin investor The Town Lake Co. in December 2023, will undergo an interior overhaul and other upgrades designed by Studio 8.
One of the major changes planned for the hotel is a new staircase connecting it to the popular River Walk area, as well as a deck overlooking the river and modifications to enhance its landscape at river level.
This transaction marks an end to previous legal issues surrounding ownership of the hotel after it fell into foreclosure under its former owners. Local private equity firm Alamo Equity faced lawsuits from investors who accused them of using renovation funds for personal financial gain instead of improving the property. After defaulting on loans held by mezzanine lender Weston Urban, negotiations were able keep El Tropicano off auction blocks.
Trestle aims to reopen this iconic hotel in 2026; originally built in 1962.
