IRAS Group Acquires Courtyard by Marriott and Fairfield Inn and Suites SeaWorld in San Antonio from Hunter Hotel Advisors
IRAS Group purchases a 277-key hotel in San Antonio from Hunter Hotel Advisors.
IRAS Group has acquired the Courtyard by Marriott and Fairfield Inn and Suites SeaWorld in San Antonio from Hunter Hotel Advisors. The 277-key hotel is located at 11605 State Hwy 151 & 4026 Wiseman Blvd. David Perrin of Hunter Hotel Advisors represented the seller in the transaction. The sale closed on January 6, 2023.
The Courtyard by Marriott and Fairfield Inn and Suites SeaWorld is a dual-branded hotel that offers guests a variety of amenities, including a fitness center, outdoor pool, and complimentary breakfast. The hotel is located near SeaWorld San Antonio and is a popular destination for tourists visiting the area.
IRAS Group is a real estate investment firm that specializes in the acquisition and management of commercial properties. The firm has a portfolio of properties across the United States, including hotels, office buildings, and retail centers.
Hunter Hotel Advisors is a leading investment advisory firm that specializes in the hotel industry. The firm provides a range of services to hotel owners and investors, including asset management, brokerage, and consulting.
David Perrin, who represented the seller in the transaction, is a senior vice president at Hunter Hotel Advisors. Perrin has over 20 years of experience in the hotel industry and has been involved in the sale of over $1 billion in hotel transactions.
The sale of the Courtyard by Marriott and Fairfield Inn and Suites SeaWorld is a significant transaction for both the buyer and the seller. The hotel is a well-known property in the San Antonio market and is expected to continue to perform well under the new ownership. The sale also demonstrates the continued strength of the hotel market in Texas, which has been a hotbed of activity for hotel investors in recent years.
Overall, the acquisition of the Courtyard by Marriott and Fairfield Inn and Suites SeaWorld is a positive development for IRAS Group and the San Antonio hotel market. The property is a strong addition to IRAS Group’s portfolio and is expected to generate strong returns for the firm in the years to come.