The landscape of downtown San Antonio is bracing for a fresh upscale accommodation option as Austin’s Merritt Development Group and Peachtree Group out of Georgia make moves to plant a new Residence Inn by Marriott squarely in the heart of the city. These developers are placing a hefty $58 million wager on the hospitality jackpot, pitching in on a 10-story establishment that will stand proud at 100 North Main Avenue. The expected cost per room? North of $339,000, once the dust settles on all 171 of them.
Aiming to truly diversify the local lodging scene, Merritt and Peachtree aren’t just stopping at basic bedrooms. We’re talking a rooftop pool and terrace to literally elevate your stay experience, plus a fitness center, meeting rooms, and a local twist—a panaderia for guests to get a taste of the area's culinary culture. According to KSAT, the project, which is scaling out to a spacious 124,000 square feet, is currently under the microscope of the city’s Development Services Department. A preliminary plan review is acting as the gatekeeper before shovels hit the ground.
Ownership of this prime piece of real estate has been almost as hotly contested as a winning hand in poker, with the plot shifting hands twice this year alone. Peachtree Group scooped it up in October, pulling it from the holdings of an entity synonymous with REM Hospitality. Backtracking the property's timeline, the same lot was once eyed by REM in 2016, who envisioned an 18-story Cambria hotel with Choice Hotels taking a slice of the partnership pie, as noted in a report by the Real Deal.
But this Marriott joint is not the sole talking point when it comes to San Antonio’s bed and breakfast game. Blueprint Hospitality is putting together a $55 million masterpiece, converting the old CPS Energy headquarters into a chic El Portal as part of Marriott’s Autograph Collection. Not to be outdone, Evolution Hospitality is poised to pour $30 million into the historical Sheraton Gunter Hotel, injecting a slice of musical legacy into the revived space. It’s clear, from the JW Marriott Hill Country Resort’s $800 million tag that Ryman Hospitality slapped down this summer, that San Antonio's staying power in the hotel scene isn’t looking to cash out anytime soon.
