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 •
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