At one time (1962), it was the only hotel on the San Antonio River Walk. But the hotel has been shut down since Covid and has had a number of false starts since then. Now, it looks like a joint venture of three investors is ready to do a full restoration and rehabilitation of the resort property.
Trestle Studio, private equity firm Spores Capital and Austin investor The Town Lake Company have purchased the shuttered hotel at 110 Lexington Ave. The San Antonio Business Journal reports terms of the acquisition have not been disclosed, but the group has taken out a $15.15 million loan from The Ardent Companies as part of the deal.
The new ownership has said the hotel would be fully restored.
The team plans to construct a riverside patio with a deck, build a new staircase to connect to the River Walk and modify the rooftop pool.
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