Hilton Garden Inn San Antonio – 117 Rooms
Major Renovation
Rationale
- Disciplined Acquisition
- Margin Improvement
- Cost-Effective (Re-) Development
- Brand Relationship
- Purchased a 125-room Clarion Hotel for approximately $32,000 per key at the San Antonio International Airport
- Through our strong relationship with Hilton Hotels, a Hilton brand was acquired for this market
- Hotel underwent a 12-month full renovation of all guest and public areas
- The Hotel was awarded the Hilton Garden Inn “Conversion of the Year” Award in 2007
- Under Baywood management, post renovation sales were increased from $1,550,000 to $3,300,00, an increase of 300%
- Simultaneously RevPAR increased from $34 to $50.40, an increase of over 48%
- Value of the asset – post renovation – increased by 75%
- Sold to RLJ Investments in June 2007
