SHG, Trailbreak Buy Wyndham-Branded Hotel in San Antonio, Plan $50M Overhaul

SAN ANTONIO — A partnership between hospitality management firm Scarlett Hotel Group (SHG), which has offices in Chicago and Nashville, and Denver-based private equity firm Trailbreak Partners has purchased the former Wyndham San Antonio RiverWalk Hotel. The new ownership is planning a $50 million capital improvement program of the 21-story, 390-room hotel, which originally opened as an office building in 1958. Planned renovations include upgrades to the 40,000 square feet of meeting space and enhanced food and beverage options, as well as the addition of nearly 3,000 square feet of dining/restaurant space and luxury rooftop amenities. In addition, the hotel will be operated under the InterContinental Hotel Group (IHG) family of brands moving forward. Completion of the project is slated for early 2023.