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