Wheelock Street Capital acquires Hotel Contessa in San AntonioTagged with: HEI Hotels & Resorts | Hotel Contessa | San Antonio | Texas | Tim Hodes | USA | Wheelock Street Capital
Wheelock Street Capital has acquired Hotel Contessa, a luxury hotel in San Antonio, Texas for an undisclosed price.
Hotel Contessa, which is a 12-story hotel with 265 rooms, is situated at 306 West Market Street.
Built in 2005, the luxury hotel has 10,000 square feet of function space, a rooftop pool, a full-service restaurant and bar, and a full-service spa.
Wheelock Street Capital said that in the coming months, it intends to undertake a complete renovation of the ground floor restaurant and bar.
Presently, the luxury hotel in San Antonio operates independent of any national brand affiliation, while sustaining an outsized transient base in a premier drive-to leisure market.
HEI Hotels & Resorts, a US national hotel operator, will handle the management responsibilities of Hotel Contessa under the ownership of Wheelock Street Capital.
The acquisition is the first hotel purchase for Wheelock Street Capital in the San Antonio market.
Tim Hodes – Principal and Director of Hotel Investments for Wheelock Street Capital said: “The property’s historically strong performance, superb location, and superior quality in a top leisure-driven market was a perfect match with our current acquisition criteria and provided us the conviction to execute during an uncertain time in the capital markets.
“We look forward to achieving success at another quality asset with our partners at HEI.”