Subject: CXP
White Lodging Adds Marriott Plaza San Antonio Downtown to its Owned and Managed Portfolio
MERRILLVILLE, Ind., Aug. 5, 2019 /PRNewswire/ -- White Lodging, in partnership with REI Real Estate Services, today announced its continued growth in Texas with the acquisition of the Marriott Plaza Hotel in downtown San Antonio to its growing owned and managed portfolio of premium-branded hotels.
The 251-room property is a six-acre urban oasis in the heart of downtown San Antonio, complete with sun-bathed courtyards, sparkling fountains and lush gardens. Guests can also enjoy a beautifully landscaped outdoor pool and 17,000 square feet of meeting space, which includes several historic 19th century bungalows converted into unique meeting spaces.
The property's premium South Alamo Street location is adjacent to the La Villita Historic Arts Village and 96-acre Hemisfair Park, which recently received funding for a $200 million redevelopment. It's also only two blocks from the famous River Walk and the recently expanded Henry B. Gonzalez Convention Center.
White Lodging anticipates investing in an extensive renovation of the property that will commence in the summer of 2020.
"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 currently owns and/or operates more than 10 other hotels in Texas ? with several additional hotels currently under construction, including the 613-room Austin Marriott Downtown set to open in summer 2020. White Lodging will also operate the Canopy by Hilton San Antonio River Walk, which is currently under construction and anticipated to open in mid-2020.
About White Lodging
White Lodging, established in 1985, is one of the leading ownership, development, and management companies in America. An innovative trendsetter, the organization's portfolio includes convention, urban lifestyle, and suburban select hotels with more than $1 billion in managed revenue. White Lodging operates more than 90-premium hotels, 30 restaurants and 30 brands in 20 states. Success knows no boundaries at White Lodging, where associates and leadership have consistently earned superior guest satisfaction scores, top market share and industry-leading profit margins while recruiting the best, brightest, and most passionate professionals in every discipline for three decades. White Lodging is a proud winner of the Gallup Great Workplace Award. For more information about White Lodging, visit www.whitelodging.com, or connect on Facebook, Twitter, LinkedIn and Instagram.
About REI Real Estate Services
REI is a real estate solutions company based in Indianapolis, Indiana, with decades of experience working on major development and construction projects across the country. REI provides a full range of real estate services through long-term relationships that build value for all parties involved. For more information about REI, visit www.reirealestate.com.
Contact: Mike Banas
219.472.2861 | [email protected]
SOURCE White Lodging
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