{"id":1004221122,"date":"2018-04-19T06:44:52","date_gmt":"2018-04-19T14:44:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004221122"},"modified":"2022-12-08T03:13:20","modified_gmt":"2022-12-08T11:13:20","slug":"bluegreen-vacations-buys-34m-san-antonio-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bluegreen-vacations-buys-34m-san-antonio-hotel\/","title":{"rendered":"Bluegreen Vacations Buys $34M San Antonio Hotel"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<p>Bluegreen Vacations Corp. has acquired The \u00c9ilan Hotel and Spa, a 165-key luxury boutique hotel in San Antonio for $34.3 million, previously known as a <a href=\"https:\/\/www.commercialsearch.com\/news\/tag\/marriott-autograph-collection\/\">Marriott Autograph Collection Hotel.<\/a>\u00a0This transaction reflects the firm\u2019s strategy of transforming hotels into vacation ownership resorts.\u00a0Zions Bank will provide $24.3 million for the acquisition of the resort and another $3.2 million for future improvement costs.<\/p>\n<p><em>&#8220;The \u00c9ilan Hotel &amp; Spa is a natural acquisition for us. With over 85 percent of our owners in a four- to six-hour drive distance from our now 68 properties across the U.S., San Antonio is a drivable destination for many. As we continue our westward expansion, we focus on choice, flexibility and quality,&#8221;\u00a0<\/em>Ahmad Wardak, Bluegreen Vacations&#8217; EVP of Corporate Development and Innovation, told Multi-Housing News.<em>\u00a0&#8220;The \u00c9ilan Hotel &amp; Spa captures all three of these and marks out first property in Texas. More than 10 percent of our existing owner base live in Texas and its surrounding states.&#8221;<\/em><\/p>\n<p>Located at 18603 La Cantera Terr., north of the River Walk\u2014a public park along the San Antonio River\u2014The \u00c9ilan is close to various shopping, dining and entertainment venues such as the San Antonio Museum of Art, the Texas wine country, a Six Flags theme park, the 36-hole La Cantera Golf Club, The Rim shopping center, Shops at La Cantera and Top Golf. Additionally, the hotel is some 20 miles from downtown San Antonio.<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Interview-quote-CPE-Ahmad-Wardak.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004223678\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/?attachment_id=1004223678\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Interview-quote-CPE-Ahmad-Wardak.jpg\" data-orig-size=\"827,221\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Patricia Todoran&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1497549143&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Interview quote CPE Ahmad Wardak\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Interview-quote-CPE-Ahmad-Wardak.jpg?w=827\" class=\"alignnone wp-image-1004223678 size-full\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Interview-quote-CPE-Ahmad-Wardak.jpg\" alt=\"\" width=\"827\" height=\"221\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Interview-quote-CPE-Ahmad-Wardak.jpg 827w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Interview-quote-CPE-Ahmad-Wardak.jpg?resize=300,80 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/04\/Interview-quote-CPE-Ahmad-Wardak.jpg?resize=768,205 768w\" sizes=\"auto, (max-width: 827px) 100vw, 827px\" \/><\/a><\/p>\n<p>The Tuscan-inspired hotel offers 13 rooms totaling 20,000 square feet of meeting and event space for up to 165 people, a 12,000-square-foot fitness center and free Wi-Fi throughout the property. Other common-area amenities include:<\/p>\n<ul>\n<li>outdoor swimming pool with private cabanas<\/li>\n<li>spa with 10 treatment rooms<\/li>\n<li>two tennis courts<\/li>\n<li>indoor pool<\/li>\n<li>virtual golf room<\/li>\n<\/ul>\n<h2>Additional office space<\/h2>\n<p>The company plans to add 13,000 square feet of office space by the end of the year. Other upgrades will include improvements to the pool area (new landscapes, chairs and cabanas), as well as some minor changes to bring the property up to Bluegreen Vacations&#8217; standards, Wardak says. BBX Capital Corp., a <a href=\"https:\/\/www.commercialsearch.com\/news\/bbx-capital-stiles-trade-fl-retail-property\/\">diversified real estate holding company,<\/a> owns 90 percent of Bluegreen Vacations Corp. Bluegreen;s recent conversion includes the Blake in Chicago through its Fee-Based Services business.<\/p>\n<p><em>&#8220;Additionally, this is a natural extension to continue to leverage our partnership with Bass Pro Shops, which has a store location directly across the street from the \u00c9ilan Hotel &amp; Spa,&#8221;\u00a0Wardak continues. &#8220;We also have a unique partnership with Choice Hotels. In the future, the \u00c9ilan Hotel &amp; Spa will be a part of the Choice Ascend collection.&#8221;\u00a0<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><em>Image courtesy of Bluegreen Vacations Corp.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company plans to add 13,000 square feet of office space to the 165-key luxury boutique hotel by the end of the year.<\/p>\n","protected":false},"author":436,"featured_media":1004223678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21751,21783,21742,1607],"tags":[39627,39951,32902,33877],"class_list":["post-1004221122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-hotel","category-investment","category-latest","category-san-antonio","tag-bbx-capital-corporation","tag-bluegreen-vacations-corporation","tag-choice-hotels-international-inc","tag-marriott"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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