The Real Deal: Hotel developers clamor for Pearl district

The Real Deal builds on the recent article from the San Antonio Express-News about hot hotel development in San Antonio’s Pearl district north of downtown. The article, Hotel developers clamor for Pearl district, cites Source Strategies extensively and is enthusiastic about upcoming hotel projects in the area.

The Pearl, known for its breweries, upscale apartments, restaurants and the renowned Hotel Emma, is attracting a swarm of hotel developers looking to capitalize on the area’s explosion, the San Antonio Express-News reported. 

“You look at the success of Hotel Emma — if you’ve got a hotel that is that successful in that area, that’s going to make other people take a look and see if they can share some of that success,” said Paul Vaughn, senior vice president for hotel consulting firm Source Strategies.

The article catalogs current development plans from Phoenix Development Partners, Oxbow Development Group (development arm of Pearl owner Silver Ventures), McCombs Enterprises, GrayStreet Partners, and Fulcrum Development. Developers are clearly paying attention to the success of Hotel Emma and are exhibiting confidence in the San Antonio hotel market.

Despite the pandemic’s lingering impact — downtown San Antonio’s hotel occupancy was down 13 percent in 2023 compared to 2019 — the hospitality sector is showing signs of recovery. Revenue per available room increased by 7.3 percent over the same period, and average daily rates rose by 27.4 percent, the outlet reported, citing Source Strategies.

Read the full article, Hotel developers clamor for Pearl district, at TheRealDeal.com.