Merrillville-based White Lodging and REI Real Estate Services have acquired the Marriott Plaza Hotel in downtown San Antonio and is planning a major renovation.
Seller Ashford Hospitality Trust said the deal was for $34 million.
The hotel development and management company, which was founded by business magnate Bruce White in 1985, will own and manage the 251-room hotel, which boasts "sun-bathed courtyards, sparkling fountains, lush gardens, and a beautifully landscaped outdoor pool" on a six-acre site in the Texas city. The hotel also features 17,000 square feet of meeting space, including in converted 19th-century bungalows.
It's located at a prime spot on South Alamo Street by La Villita Historic Arts Village and 96-acre Hemisfair Park, and is only two blocks from the San Antonio River Walk and the Henry B. Gonzalez Convention Center.
“We see San Antonio as a growing market for us and this acquisition provides an array of value enhancement opportunities for guests, the community and our company,” said Deno Yiankes, president and CEO, investments and development, at White Lodging. “When our extensive planned renovation is complete, the hotel will offer a completely differentiated and upscale experience like no other in downtown San Antonio.”
White Lodging will start on the massive renovation project next summer.
The company owns or operates 10 other hotels in Texas and has more under construction, including the 613-room Austin Marriott Downtown. The firm, which operates 90 hotels and 30 restaurants in 20 states, also will operate the Canopy by Hilton San Antonio River Walk, which is now under construction.