The oldest hotel on the San Antonio River Walk is slated for a contemporary makeover under new ownership.
Opened in 1962, El Tropicano Hotel will undergo renovations both inside and out subject to the approval of the Historic and Design Review Commission (HDRC) which meets to review the project on Dec. 6.
A major renovation to the hotel’s public space and its 300-plus guestrooms began after Alamo Equity and Phoenix Hospitality Group acquired the property in 2018. It was expected to be completed in 2022. Then the hotel closed abruptly in 2020 as the pandemic took hold and all work stopped.
In May, investor and former broadcast executive Emilio Nicolas Jr. sued Alamo Equity principal Logan Anjaneyulu for mismanagement. The case was moved to arbitration.
A month later, the property was headed to foreclosure after its owners defaulted on a loan from an affiliate of developer Weston Urban that helped finance the acquisition. It was pulled from the auction block days later.
Real estate attorney Patrick Christensen confirmed that an agreement had been reached to sell the hotel to new owners but declined to name them. As of Nov. 29, a closing date had not been set, he said.
Documents submitted to the Office of Historic Preservation show El Tropicano will undergo rehabilitation by Trestle Studio, a real estate investment and development firm with offices in Chicago and New York City.
The firm specializes in boutique hotels, and its projects have included the Freehand NY, NoMad London and the LINE Austin.
A number of the hotel projects listed on Trestle’s website have been developed for the Sydell Group, a firm that creates and manages unique hotels.
El Tropicano is located at 110 Lexington Ave., steps from the Tobin Center for the Performing Arts and directly across from the Thompson San Antonio-Riverwalk hotel, which opened in 2021. In its heyday, El Tropicano was a swanky and modern vacation spot for tourists, a few celebrities and even a U.S. president.
Now the shuttered nine-story hotel is in major disrepair despite extensive renovation plans approved by commissioners in 2019.
The new owners are requesting a certificate of appropriateness for much the same project scope as was previously approved, with a few changes, including an improvement to the hotel’s pool deck.
Changes to the original scope include a new storefront compatible with the character of the building, but without an additional retail entry proposed in the previous plans.
The existing stone veneer will also remain instead of being removed and the porte cochere won’t be altered though it will be improved for traffic flow.
The easternmost three-story wing of the hotel will remain, due to its historic nature, but the parking garage will be demolished.
Plans call for updates to the landscaping and hardscaping of the pool deck, which is not visible from the public right of way.
