Hotel Indigo Riverwalk sells for $16 millionHotel Indigo Riverwalk sells for $16 millionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=184622017-11-29T06:00:00Z2017-11-29T22:45:00Z

​​Hotel Indigo, as seen from the Riverwalk.SAN ANTONIO – Boerne-based Phoenix Hospitality Group (PHG) has closed on its purchase of the Hotel Indigo San Antonio-Riverwalk.

PHG partnered with 2GR Equity to buy the three-story, 149-room property for $16.1 million from LNR Partners LLC.

The firm will put about $5 million into the property to upgrade guest rooms, public areas, its riverfront patio, pool area and food and beverage outlets.

The property is now the fourth hotel that PHG owns and manages in Greater San Antonio and its second asset downtown.

The company also owns the Embassy Suites San Antonio at Brooks, the Hilton Garden Inn in Live Oak, the downtown San Antonio Doubletree by Hilton and a Doubletree Suites in McAllen.

San Antonio Business Journal
San Antonio-New Braunfels
https://www.bizjournals.com/sanantonio/news/2017/11/27/local-hospitality-group-buys-hotel-indigo-downtown.htmlRead more at the {Source}

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