Laurus Corporation Acquires San Antonio Marriott
Monday June 30th, 2014 - 3:26PM H
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SAN ANTONIO—Real estate investment and development firm Laurus Corporation has acquired the Marriott San Antonio Northwest Hotel here.
The company will be investing approximately $16 million to implement a renovation at the 296-room hotel. The property includes two food & beverage outlets, approximately 8,500 sq. ft. of meeting and banquet facilities, as well as a 6,084-sq.-ft. ballroom.
"Given San Antonio's status as the second largest city in Texas and one of the fastest growing in the nation, we saw this acquisition as a highly attractive opportunity to implement a value-add strategy and maximize revenue by bringing back its past glory to this outstanding asset," stated Phil Cyburt, CEO of Laurus Corporation.
Tags: Laurus • acquisition • Marriott • Hospitality • Ownership •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.