A new InterContinental hotel is slated to open in San Antonio, Texas, in 2023.

Scarlett Hotel Group (SHG) has purchased the former Wyndham San Antonio River Walk, located at 111 East Pecan Street, as part of a joint venture with Trailbreak Partners. The new owners have closed the property to begin a $50 million USD overhaul. It will reopen as a full-service, four-star, 390-room InterContinental hotel in early 2023.

“Turning this property into a luxury hotel is an amazing opportunity for us to contribute to the city of San Antonio,” said Zio Pekovic, principal and co-founder of SHG. “San Antonio has been ranked within the top three cities for conferences for many years*, and we’re proud to bring a luxury hotel brand like InterContinental into the central business district, minutes from the Henry B. González Convention Center.”

The property, which is located on the San Antonio River Walk in the heart of the city’s downtown, opened as an office building in 1958. The 21-storey structure sits adjacent to the Weston Centre and includes a rooftop pool with downtown views as well as direct access to the River Walk and river taxi landing area.

The $50 million renovation will include 40,000 square feet of meeting space, enhanced food and beverage options, nearly 3,000 square feet of dining/restaurant space, and luxury rooftop amenities. It will be the only InterContinental Hotel in San Antonio.

“San Antonio continues to be a leading city for conferences,” said Jordan Scharg, principal at Trailbreak Partners. “Meeting and conference planners looking at convention locations for 2023 and beyond will have a brand new, high-end lodging option in San Antonio right on the River Walk.”

“The Inter-Continental brand is recognized by travelers around the world for unparalleled luxury, sophistication and superior, personalized service and we are excited to partner with SHG and Trailbreak Partners to bring the brand to San Antonio’s landmark River Walk,” said Julienne Smith, senior vice-president of development, Americas, IHG.

* SmartAsset, “Best Cities for Conferences – 2020 Edition.”