Property Overview
Overview
- Brand new property scheduled to open Mid December 2022.
- Located on a major roadway.
- San Antonio International Airport approx. 14 miles away.
Area Description
Location
San Antonio Northeast is a large submarket and contains around 11,000 rooms spread over 135 properties. Unlike the broader market, San Antonio Northeast is characterized by fairly small hotels relative to the national norm. The average hotel in the submarket has 79 rooms, significantly lower than the 103-room-per-building market-wide average. The national average falls in between those two figures, at about 90 rooms per building.
COVID-19 severely impacted the entire U.S. hospitality sector, the San Antonio Northeast hotel submarket included. At the low point, occupancies collapsed in April of 2020. But with the worst of the pandemic now in the rearview mirror, conditions are improving. Room demand was up 4.8% in September 2022 when compared to the same month the prior year, and occupancies are well off their lows.
Twelve-month RevPAR in the San Antonio Northeast hotel submarket was up sharply as of September 2022, climbing at a 29.3% year-over-year rate. In the San Antonio market, RevPAR increased at an even stronger rate of 39.5% over the same timeframe.
