Hodges Ward Elliott (“HWE”) is pleased to offer the opportunity to acquire the Marriott San Antonio Airport (“Property” or “Hotel”), strategically positioned in the market’s thriving north growth corridor approximately five minutes from the expanding San Antonio International Airport. Located within a five-mile radius of over 36 million square feet of office and industrial space, the fully renovated Hotel benefits from a dense commercial setting and its proximity to key market demand generators. Recognized as the nation’s fastest-growing city in 2023, San Antonio is seeing record-setting population and job growth that will continue to be a boon to the local hospitality market. The fee-simple offering presents a unique opportunity to own an institutional-quality, full-service hotel in one of the Sun Belt’s most rapidly expanding metropolitan areas.
| Address | |
| Year Opened | 1981 |
| Year Renovated | 2022 |
| Keys | 367 |
| Stories | 11 |
| Meeting Space | 15,603 SF (15 Event Spaces) |
| F&B |
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| Amenities |
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| Interest Conveyed | Fee Simple |
| Management | Unencumbered |
| Labor | Non-Union |
Investment Highlights
LIKE-NEW PROPERTY
The Marriott underwent a full, gut renovation that completely reimagined the Hotel, finishing in 2022. Taking it down to the studs, every aspect of the Hotel was transformed, including all guest rooms, bathrooms, public spaces, and back-of-house facilities. Ample amounts of natural light, modern finishes, and contemporary design elements were incorporated to align with today’s traveler preferences and Marriott’s requirements. The result is essentially a brand-new property under the framework of the flagship Marriott branding, offering a premier lodging experience in San Antonio.
IRREPLACEABLE AIRPORT LOCATION WITH DIVERSIFIED DEMAND
The Marriott San Antonio Airport enjoys a prime location less than five minutes from San Antonio International Airport, offering unmatched accessibility and visibility. In addition to benefiting from air travel demand, the Hotel is close to key demand generators such as North Star Mall, Park North Shopping Centers, Alamo Quarry Market, and some of San Antonio’s preeminent corporate offices, including the 137,719-square-foot Class A Centre Plaza office building located adjacent to the Property.
The Property is within a five-mile radius of approximately 36.3 million square feet of industrial and office space and is within a 15-minute drive of prominent business hubs like Park North Office Complex, Airport Business Park, Century Square Business Center, Concord Park, and Ridgewood Plaza, which house significant tenants like Rackspace Technology, Nationwide, Harland Clarke, and Security Service Federal Credit Union. Furthermore, the Hotel is a short drive from prominent healthcare and education institutions such as Methodist Hospital, CHRISTUS Santa Rosa, the University of the Incarnate Word, and the University of Texas at San Antonio, further diversifying its demand base.
LESS THAN FIVE MINUTES FROM RAPIDLY EXPANDING SAN ANTONIO INTERNATIONAL AIRPORT (SAT)
San Antonio International Airport (SAT), located less than five minutes from the Hotel, provides commercial airline service for the entire South Texas region, hosting more than 260 daily domestic and international departures and arrivals. In recent years, the airport has experienced strong growth, highlighted by a 4% increase in passenger traffic from 2023 to 2024, surpassing 11 million total passengers. This marked the second consecutive year that SAT achieved a record number of travelers.
In the next 20 years, annual passenger traffic is projected to grow to an estimated 18 million. As a result of the increased passenger volume, the San Antonio International Airport recently broke ground on a $1.68 billion expansion that will add a new terminal, bigger than the combined size of the two existing terminals at the airport. The new terminal will be over 800,000 square feet and add up to 17 gates for domestic and international travel that is designed to accommodate projected growth through 2040. Additionally, the expansion will add over 40,000 square feet of concession space, nearly 30,000 square feet of club lounge space, larger gate waiting areas for enhanced passenger comfort, and a San Antonio inspired entryway. The airport expansion is the largest capital project in the city’s history and is expected to be completed by 2028.
SAN ANTONIO - AMONG THE FASTEST GROWING CITIES IN THE COUNTRY
San Antonio, the second-largest city in Texas and the nation's seventh-most populous, boasts a population of approximately 1.5 million residents and was recently crowned the nation’s fastest-growing city in 2023. The city has continued its rapid growth, seeing the fourth-highest population increase throughout the U.S. in 2024. This trend is expected to keep pace in the future as San Antonio is the center of economic activity and commerce in South Central Texas. Numerous Fortune 1000 headquarters call the area home, including Valero Energy #34, USAA #93, iHeartMedia #796, Cullen/Frost Bankers #949, and Rackspace Technology #978, in addition to the nation’s 5th-largest private company (HEB Grocery) and several major U.S. military bases.
LOCATED LESS THAN 10 MILES FROM THE BOOMING DOWNTOWN SAN ANTONIO
Downtown San Antonio, less than 10 miles and approximately 15 minutes from the Hotel, is home to the two most visited attractions in the entire state of Texas – The Riverwalk and The Alamo. Along with the plethora of other amenities, corporate users, and major events, Downtown draws an average of over 39 million visitors per year. This number continues to grow, with annual visitors increasing each year from 2021-2024. The city’s CBD core is booming, with public and private investments recently completed or approved totaling well over $1 billion, displaying widespread commitment to the continued growth of San Antonio.
Aerial view of San Antonio
Redevelopment of Alamo Plaza
DOMINANT MARKET POSITIONING
The Marriott San Antonio Airport occupies a truly unique position within the market. Following the comprehensive renovation, the Property delivers a best-in-class product with no direct peers in its competitive set. As the dominant asset in the surrounding area, the true opportunity lies in the Hotel’s ability to command premium rates and compete with Downtown/Riverwalk properties. Uniquely, San Antonio’s airport is centrally located just minutes from the city’s vibrant Downtown core, enabling the Marriott to directly vie with the urban hotels while offering the convenience and accessibility of an airport location with free parking, effectively bridging both markets. This rare dynamic positions the Property to not only outperform the broader airport market, but also compete credibly with Downtown properties, cementing its role as the market-dominant hotel with meaningful runway for continued growth.
OPTIMAL OFFERING - FEE SIMPLE, NON-UNION, UNENCUMBERED BY MANAGEMENT
The Property is offered fee simple and free and clear of existing management and financing, affording new ownership maximum optionality in the future operation and capitalization of the Hotel. The current manager, The Bricton Group, is also available to continue as manager.
VERY ATTRACTIVE ACQUISITION BASIS (FRACTION OF REPLACEMENT COST)
Attributable to escalating land costs combined with rising construction costs, to develop a comparable full-service asset would cost in excess of $500,000 per key and take over three years to fully build. At the anticipated transaction price, a new owner’s all-in basis will be materially inside of the replacement cost. The substantial cost to build a full-service hotel will inhibit new supply of competitive full-service product for years to come.
