ATLANTA, Georgia, and SAN ANTONIO, Texas—Peachtree Group celebrated the groundbreaking of a new 171-room studio-suite Residence Inn by Marriott in downtown San Antonio, Texas, near the Riverwalk, set to open in the second quarter of 2026. This development brings an upscale, extended-stay option to the San Antonio market.
The Residence Inn will succeed an older-generation property downtown, taking advantage of a location near demand drivers, including the leisure of the Riverwalk, educational activity from the University of Texas at San Antonio, and corporate and government demand from surrounding office buildings. With this positioning, the hotel aims to meet a range of accommodation needs in San Antonio’s market.
“San Antonio is a unique market with a growing need for extended-stay hotels,” said Greg Friedman, managing principal and CEO, Peachtree. “The Residence Inn will cater to the diverse demand drivers of San Antonio, including its thriving tourism sector and extensive corporate presence. Positioned within easy reach of the city’s popular attractions, restaurants and business hubs, this hotel will provide guests with a prime location for both work and leisure.”
Located within a Qualified Opportunity Zone (QOZ), this project underscores Peachtree’s commitment to underserved communities. The firm has been an active hotel developer in QOZs, having already opened nine hotels, with another five under construction, including the new Residence Inn, in these designated areas.
“By building within a QOZ, Peachtree’s Residence Inn will create lasting economic impacts, from job creation in construction and operations to sparking further interest in nearby retail, dining and entertainment—vital elements for a thriving downtown community,” Friedman said. “We are optimistic that Washington, D.C., will recognize the QOZ’s impact on job creation and economic activity within these zones and will extend the program, enabling us and other developers to deliver new commercial real estate projects across the United States.”
Merritt Development Group, an Austin, Texas-based hotel development company, will be responsible for constructing the Residence Inn, which will have a modern design focused on home-like amenities, including kitchens, separate living areas, and workspaces in each suite, accommodating the needs of today’s extended-stay travelers and enhancing the hotel’s appeal to business professionals, families, and long-term guests.
An onsite fitness center and outdoor gathering space will further the guest experience. Additionally, the hotel will provide meeting space to cater to the needs of business guests, making it a venue for corporate gatherings and social events. The hotel will have a Caribou Coffee.
“The new Residence Inn will provide guests with a dynamic extended-stay experience uniquely suited to San Antonio’s market,” Friedman added. “Peachtree’s commitment to thoughtful development is evident in every aspect of this property, from its modern amenities to its prime location, ensuring it will be a valued addition to the city.”
This development marks a milestone for Peachtree in Texas as the firm continues to expand its footprint in markets nationwide. In October, Peachtree celebrated the groundbreaking of a new 19-story, dual-branded hotel development featuring Marriott brands AC Hotel and Moxy Hotel in Uptown Dallas, Texas. The hotel development will bring 264 rooms, amenities, and lifestyle offerings to the McKinney Avenue corridor. The project is expected to open in summer 2026. In addition to these two projects, Peachtree currently has nine projects under construction across the United States, including five in QOZs.
