• SpringHill Suites San Antonio Airport   

CBRE Hotels;

CBRE Hotels is soliciting offers to acquire the fee-simple interest in the SpringHill Suites San Antonio Airport. The hotel is located near Loop 410, less than a mile from San Antonio International Airport, with easy access to many of San Antonio’s most popular attractions, renowned academic institutions, and corporate offices. Thanks to this prime location, the 116-room hotel receives business from a diverse population of both corporate and leisure segments.

Investment Highlights

  • Premium Brand Select-Service Hotel Offering - Opportunity to acquire a 2009-built, 116-key, all-suite guestroom, four-story, SpringHill Suites by Marriott at a discount to replacement cost and to basis of recent trades. Located in San Antonio, the hotel features a spacious lobby, a fully-equipped fitness center, an indoor pool, and outdoor space with several seating areas.
  • Property & Management Upside - Throughout the COVID period and all of 2022, the SpringHill Suites experienced notable declines in revenue performance, largely due to the absence of key amenities such as pool, fitness center, shuttle, and out-of-order guestrooms, which have been remedied throughout 2023. Additionally, the hotel is currently managed by a nationally recognized operator with significant corporate overhead allocation. This project presents a unique opportunity for a more hands-on operator to capitalize on upside potential. This involves enhancing RevPAR growth through more focused revenue management, as well as improve NOI by optimizing housekeeping labor utilization and reducing operational expenses.
  • $2.5 Billion San Antonio Airport Expansion - With more than 10 million passengers annually, the San Antonio Airport anticipates an increase to 15 million passengers in the next two decades. To accommodate this growth and benefit the region, the San Antonio Airport plans to complete a new terminal, renovate the existing Terminal A, and enhance airfield and road infrastructure by 2028.
  • Diverse Demand Drivers - The hotel is strategically located minutes away from San Antonio International Airport, an international airport in San Antonio that serves 12 airlines to 53 destinations in the US and Mexico. In addition, the property is in proximity to San Antonio’s premier tourist destinations, including the North Star Mall, the Historic Market Square - the largest Mexican market in the country, and the Alamo - part of a UNESCO World Heritage site that attracts millions of visitors annually. As leisure travel continues to recover from the pandemic, the hotel is well-positioned to capture significant business from these nearby attractions in the foreseeable future.
  • San Antonio MSA - With more than 2.5 million residents, the San Antonio metropolitan area continues to be one of the fastest growing metros in the nation. Significant private and public investments have been poured into different city areas and commercial development has boomed across the Alamo City. These recent developments are starting to attract young professionals and national tenants to all areas across the San Antonio regions.

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