One of downtown St. Louis' most recognizable tourist hotels has quietly slipped onto the sales block. The Hampton Inn Downtown at the Gateway Arch is officially for sale, putting a 16-story, convention-adjacent tower just a short walk from the Gateway Arch and the Mississippi River in front of investors. Brokers are pitching it as an urban, meetings-friendly play and the deal is shaping up as a test of how much appetite remains for midmarket, branded hotels in a downtown that has seen a rush of new projects in recent years.
The property is being marketed by Avison Young and listed on commercial marketplace Crexi, where the opportunity is framed as a change-of-ownership repositioning move. According to Crexi, the offering features 190 guestrooms and interior corridors stacked across 16 floors, and a potential PIP (property improvement plan) is presented as a way to reintroduce the brand at a cost well below ground-up construction.
Who Owns It Now
Local reporting and property records tie the hotel to an ownership entity affiliated with Apple Hospitality REIT, which purchased the asset more than a decade ago. KSDK, citing the St. Louis Business Journal, reports the hotel sold for about $23 million in 2010 and currently carries an appraised value of roughly $15.31 million.
Company Footprint
Apple Hospitality ranks as a major national owner of franchised hotels, with investor materials listing a portfolio of 217 hotels across 37 states. Per Apple Hospitality REIT's corporate profile, the company focuses on branded, rooms-focused properties that tend to appeal to institutional buyers and professional operators.
Price, Taxes and History
Additional local reporting puts the 16-story tower's construction date at 1967, with a renovation completed in 2009 and a total building size of about 224,592 square feet. According to KSDK, property taxes last year came in at about $489,598, and before flying the Hampton Inn flag under Hilton, the hotel previously operated as a Ramada.
The Hampton Inn brand page lists the address as 333 Washington Avenue and calls out amenities such as an indoor pool and meeting rooms, along with the hotel's proximity to America’s Center, Busch Stadium and the Arch. For contact information and guest details, see the official listing on Hilton.
What Buyers Might Find Attractive
Brokers say a change-of-ownership PIP could let a buyer refresh guestrooms and common areas at a fraction of what it would cost to build new, which is no small thing in a downtown market where construction faces cost and logistical challenges. On Crexi, the sales pitch leans heavily on the location and convention access, aimed at both hands-on operators and passive investor-owners.
All eyes now turn to how the offering performs. Watch to see whether a buyer opts to hold and spruce up the existing Hampton, reflag it under a different brand, or pursue a more dramatic redevelopment. However it shakes out, the deal is likely to serve as an early litmus test for investor confidence in properties clustered around the Gateway Arch as downtown St. Louis continues to evolve.
