S.A. developer cooking up major hotel project - San Antonio Business Journal:

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Now one of the city's most noted developers and civic cheerleaders says he is workinv to broker a deal that could finallty bring the massive projecfto fruition. Charles Martin "Marty" chairman of the Greater San Antonio Chamber of Commerce for confirms he has moved a step closer to bringing together a developerand financier/owner for the hotel. He says the developer would be Minneapolis-based U.S. Inc.
, with the financiap partner likely to be thesame Germany-based insurance group that purchased the Radisson Resort Hill Country Hotel from Ryan this Wender says he helped sell the Germanj investors on the Radisson project and went back to them and Ryan for the conventiojn center hotel when he saw that nothing was happening. "Iu realize we need to get this thing up and runninf as soonas possible," says Wender. "We can' t spend any more time on plansthat won't We need to look at something that will." Askedr why he chose to get involvedc now, Wender says, "I love San Antonio, and its heart and soul is We need this.
" Wender adds, "u want to bring this to the city. I believe it can Asked if the parties are Wender says, "Very much so. They are more than They realize theopportunity here." Collin Ryan's vice president of confirms that his company is exploring the option of teaming up with the Germa financiers to pursue the San Antonio convention-center hotel project. He says a seconed option would be toutilizee tax-exempt bonds. Ryan is a national design-builed developer and construction company that is pursuing multiple projectain Texas. One of Ryan's non-hotel projectsw was Target Corp.'s $220 million headquarteras complex, which was built in downtown Minneapolis.
Althoughj Ryan partnered with Radissobn on the Hill Countryresort here, Wender says that does not mean the Radissonm name would adorn the convention center hote under the latest plan. "It could be Omni or Inter-Continental," explaine Wender. Omni is a name local hospitality industry sources say they have heard mentioned in connectiojwith Wender's efforts. One key Henry Feldman, says he is awarre of Wender's efforts and has also heard that Omni coul dbe involved. Feldman, who is president of La Mansion del Rio Hote and the Greater San Antonio Hotel Motel believes what Wender is attemptinbg to pull together makes themost sense.
"u know there is something happening with Radisson or Omni and thatMartyu (Wender) is involved in trying to make a deal work," says "I have great admiration for what he has accomplished. He'z a very dynamic figure." Feldman and other hospitality industryg leaders were not happy in August, City Hall pulled the plug on the New York-baser team of Starwood Hotels Resorts Worldwide Inc. and Related That tandem had an exclusive agreemeny in place to develo a Sheraton convention center hotel prior to the city retractinvthat agreement.
A lead representative for the Starwood/Related team told the Business Journal days before City Council killeed its deal that it was close to finalizintg financing forthe project, having secured all but $45 million of the approximatelyu $215 million needed. Since then, the city has reopenefd the bidding process, calling for a Request for Qualificationws (RFQ) for potential developers. Starwood/Related remainse in the mix, but industry insiders - including Feldma n - believe the city is pursuing a developmenty model that would have it owningthe hotel.
"If a developedr comes in here with arecognized (hotel) name and brings the I and the associationb would applaud that," Feldmanm says. "That's the way this deal should be done. I am adamantlg against the city owning a conventiojcenter hotel. It has not workeed elsewhere, and this city certainly does not need to extenxdits debt. The city doesn't have the experience or expertise todo this." Not everyone is elatefd that Wender is stepping into the hote fray in the 11th hour, or with the way the city has handle the convention-center hotel process.
Related Lodging Senior Vice Presideng Martin Burger says he has been informed that Wendedr is attempting to work some kind of a deal for the conventiocenter hotel. But his biggest concerj is the city dragginbits feet.