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Old Posted Nov 15, 2007, 7:36 PM
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sirkingwilliam sirkingwilliam is offline
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Courtyard by Marriott; Residence Inn by Marriott Planned for The Rim

http://sanantonio.bizjournals.com/sa...3600%5E1548805

Quote:
Mother Nature may have put a bit of a damper on San Antonio's tourism sector this past summer, but the home of the Alamo and the Spurs remains a prime market for hotel developers.

The latest example of the city's allure is Concord-Index Development LLC -- a joint venture between Lufkin, Texas-based Index Development Ltd and Raleigh, N.C.-based Concord Hospitality Enterprises Co.

The developer will break ground next spring on its first two hotels in San Antonio: A 120-room Courtyard by Marriott and a 140-suite Residence Inn by Marriott.

The projects are scheduled for completion in January 2009. Both brands are under the umbrella of Washington, D.C.-based Marriott International.

Residence Inn is one of Marriott's extended-stay brands. The firm describes the hotel as a "home away from home" for travelers looking to spend five or more nights on the road.

The Courtyard is a moderately priced brand that is tailored to the business traveler, according to Marriott's Web site.

Both hotels will be part of The Rim -- a mega retail center being developed by Atlanta-based Thomas Enterprises at Loop 1604 and Interstate 10 on the Northwest Side.

All told, The Rim could span as much as 1,000 acres of land along the northeast corner of Loop 1604 and Interstate Highway 10.


With a high-profile slate of tenants that includes a Bass Pro Shops Outdoor World and a multimillion-dollar theater by local businessman John Santikos, The Rim "is a unique development," according to Index Development principal Lance McFaddin.

"It is very attractive for a hotel guest," he adds.

In fact, other hotel projects could soon join the mix at The Rim -- including a high-end boutique property that would be developed by Thomas Enterprises itself.

Projects like The Rim have done much to spur hotel development all along the Interstate 10/Loop 1604 corridor.

In March, British firm InterContinental Hotels Group PLC (IHG) announced plans for a new Staybridge Suites hotel at Loop 1604 and Chase Hill Boulevard near the University of Texas at San Antonio's main campus. The property is set to open next spring.
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