Denver Investor Enters San Antonio Market
- Jun 16, 2015
Privately owned hotel operating and development company Silverwest Hotels LLC entered the San Antonio market with the acquisition of three Hilton- and Marriott-branded hotels totaling 313 rooms.
The price of the transaction remains undisclosed; HFF marketed the three-property portfolio on behalf of the seller, Barshop & Oles Co. All three hotels will continue to operate under their respective flags.
One of the three properties is the 98-key Hampton Inn and Suites San Antonio/Schertz, built in 2005 and located midway between San Antonio and New Braunfels, 20 minutes from San Antonio International Airport and one hour from Austin-Bergstrom International Airport. Another is the 118-room Fairfield Inn and Suites San Antonio NE/Schertz, built in 2009 and located in the vicinity of Hampton Inn and Suites San Antonio/Schertz in one of the highest-growth areas in San Antonio. The third hotel in the newly acquired portfolio is the 97-room Hampton Inn San Antonio/Northwoods, built in 2000 and located right off the interchange at Loop 1604/U.S. 281 in the Northwoods mixed-use development that spans more than 145 acres.
“Silverwest plans to update all three properties in the next year to bring them current with today’s franchise standards. We have always admired the diversity and strong economic growth that San Antonio has traditionally experienced,” said Charles Peck, co-founder & COO of Denver-based Silverwest Hotels.