Hotel News

San Antonio's iconic El Tropicano River Walk hotel rescued by new owners

El Tropicano Hotel

JLL

An iconic San Antonio hotel has new owners: The historic El Tropicano River Walk Hotel, the first hotel located on San Antonio’s famed River Walk, has been acquired by a consortium that includes Trestle Studios, Sopris Capital, and The Town Lake Company.

According to a release, JLL’s Hotels & Hospitality group arranged the sale, working on behalf of the seller, El Tropicano Hotel LLC, and procured the buyers, as well.

El Tropicano opened in 1962 and over the years hosted guests such as The Who and President Lyndon B. Johnson. In 2018, it was acquired by Alamo Equity and Phoenix Hospitality Group who began renovations but got bogged down by the pandemic and closed the hotel in 2020.

In May 2023, investor Emilio Nicolas Jr. sued Alamo Equity principal Logan Anjaneyulu for mismanagement, and the property was headed to foreclosure after its owners defaulted on a loan but was pulled from the auction block in the nick of time.

Located in the heart of San Antonio's renowned River Walk district, the 308-room hotel resides on a prime location in the north Riverwalk corridor, with more than 400 feet of Riverwalk frontage, serving as a cornerstone in the north Riverwalk district.

Trestle Studio is a boutique real estate investment and development firm with a focus on lifestyle assets including hotels, residential, and retail. Sopris Capital is an investment firm based in Colorado. The Town Lake Company is a commercial real estate operator and investor based in Austin.

They'll continue with renovations on the property, both inside and out.

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Hotel Emma earns accolades in new U.S. News & Forbes lists for 2026

Hotel Emma/Facebook

San Antonio's luxurious Hotel Emma is the best hotel in the city, and it ranked No. 2 in Texas for 2026.

San Antonio's grand Hotel Emma was recognized in U.S. News and World Report's prestigious list of the best Texas hotels in 2026, and it was awarded a four-star rating in Forbes Travel Guide's 2026 Star Awards.

Hotel Emma was honored as the No. 2 best hotel in Texas, and it additionally ranked No. 31 in U.S. News' separate ranking of the best hotels in the U.S. for 2026.

The publication's Best Hotels rankings annually examine over 31,000 hotels and resorts across more than 400 destinations in the U.S., Canada, Mexico, the Caribbean, Bermuda, and Europe to "help travelers find the hotel that suits their needs." Hotels are ranked based on industry awards, star ratings, and online guest reviews.

Hotel Emma last reigned as Texas' best hotel for two consecutive years in 2024 and 2025, but was overshadowed in this year's batch of rankings by Houston's grandiose Post Oak Hotel.

According to its U.S. News profile, Hotel Emma takes the crown as San Antonio's best hotel because it "stands out among travelers for its cool culture" and its historic background. The hotel also provides several on-site eateries and is located near several others in the Historic Pearl district.

"Foodies can take advantage of the on-site concierge for recommendations in the area, or they can grab some house-butchered meats at Larder, enjoy small plates at Sternewirth, or sample the creative American cuisine at Supper," the profile said.

Other San Antonio hotels that made it among U.S. News' top 50 best hotels in Texas include:

No. 12 – Thompson San Antonio Riverwalk
No. 14 – Mokara Hotel & Spa
No. 28 – Signia by Hilton La Cantera Resort & Spa
No. 30 – JW Marriott San Antonio Hill Country Resort & Spa
No. 43 – Omni La Mansion del Rio

San Antonio hotels recognized in Forbes Travel Guide's 2026 Star Awards
Forbes Travel Guide recognized 25 Texas properties in its 2026 Star Awards rankings, with three San Antonio hotels and spas earning either four-star or recommended ratings.

To determine the ratings, anonymous inspectors visit every hotel, restaurant, spa, and cruise ship in person, visiting as a typical guest for a minimum of two nights to review the quality and condition of each property and its overall guest experience. According to the rankings' methodology, inspectors pay their own way, and no one can buy a rating.

Hotel Emma maintained its "recommended" status for 2026, and The Mokara Hotel and Mokara Spa were both awarded four-star ratings for 2026.

These are the other Texas properties that made the 2026 list, by category:

Restaurants:

Garrison, Austin: 4-star
Fearing's Restaurant, Dallas: 4-star
The Mansion Restaurant, Dallas: 4-star

Hotels:

Archer Hotel, Austin: 4-star
Austin Proper Hotel, Austin: 4-star
Commodore Perry Estate, Austin: 4-star
Fairmont Austin, 4-star
Four Seasons Hotel Austin, 4-star
The Ritz-Carlton Dallas: 5-star
The Ritz-Carlton Dallas, Las Colinas: Recommended
Rosewood Mansion on Turtle Creek, Dallas: Recommended
The Post Oak Hotel at Uptown Houston: 5-star
Four Seasons Hotel Houston, 4-star
Hotel Granduca Houston: 4-star
The Houstonian Hotel Club & Spa: 4-star

Spas:

Fairmont Spa Austin: 4-star
The Spa at Four Seasons Hotel Austin: 4-star
Verbena Spa at Austin Proper Hotel: 4-star
The Ritz-Carlton Spa, Dallas: 4-star
The Spa at the Joule, Dallas: 4-star
The Spa at the Post Oak Hotel Houston: 5-star
Trellis Spa, Houston: 4-star

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