IBC Bank is looking to swap cubicles for king beds, filing plans to convert part of its downtown San Antonio complex into a $164 million JW Marriott hotel beside the River Walk. The proposal calls for turning an existing office tower into a 13-story hotel with roughly 301 rooms and adding a companion tower for amenities and parking. Construction is scheduled to begin in July 2026 and finish in April 2028.
Details of the project appear in a filing submitted to the Texas Department of Licensing and Regulation, according to The Real Deal. The filing identifies the site at 130 East Travis Street and describes a two-building development that would turn one of two office towers on the block into the JW Marriott while adding an "additional tower" whose planned use was not specified. The Real Deal notes that TDLR filings are preliminary and may change.
What IBC Is Proposing
Renderings and permit documents reviewed by San Antonio Report show a plan that tries to mix new construction with historic touches. The scheme would keep the historic Texas Theatre façade on Houston Street, preserve an existing plaza and River Walk access, and add a rooftop pool, ballroom and ground-floor restaurant. The work would retrofit the former AT&T office building on the block and erect a new multistory amenity tower for parking and events, according to the renderings.
Market Headwinds
The timing is gutsy. Local metrics underline the risk: hotels in the market sold about 2.5 million room nights in the fourth quarter of 2025, down roughly 220,000 year over year, and revenue fell about 7 percent to roughly $342 million, The Real Deal reports. And as Marcus & Millichap notes, average occupancy in the first quarter of 2026 slid to about 58 percent, the lowest level since 2020.
Why The Timing Makes Sense
On the other hand, some developers see the hotel as a forward bet on long-term catalysts. They point to the multi-billion-dollar Project Marvel plan for a new Spurs arena and convention-center upgrades, and airport improvements that could lift downtown visitation, as outlined by KSAT. The market has also seen new supply and public moves nearby: the Monarch Hotel at Hemisfair is a $185 million project and the State of Texas purchased the Crockett and Menger hotels last August, per the San Antonio Express-News.
Downtown Conversions And The City Process
IBC’s plan fits into a broader downtown pivot away from office space toward hotels and housing, a trend documented by San Antonio Report. The filing and renderings signal intent, but city building permits, neighborhood reviews and final TDLR approvals are still required, and that process will ultimately determine whether the July 2026 start date holds.
If the project proceeds, a JW Marriott on the River Walk would be a high-profile addition to downtown and a visible bet that long-term investments can outpace the current lull in hotel performance. IBC, JW Marriott and city officials did not immediately respond to requests for comment.
