Scarlett Hotel Group (SHG) and private equity firm Trailbreak Partners have revealed plans to bring the InterContinental brand to San Antonio, Texas, US.

The plan follows the acquisition of Wyndham San Antonio River Walk hotel at 111 East Pecan Street in San Antonio.

IHG Americas development senior vice-president Julienne Smith said: “The InterContinental brand is recognised by travellers around the world for unparalleled luxury, sophistication and superior, personalised service and we are excited to partner with SHG and Trailbreak Partners to bring the brand to the San Antonio’s landmark River Walk.”

The 21-storey structure, which originally opened in 1958 as office building, will undergo $50m renovation to transform into an InterContinental hotel.

The property is now closed for the transformation and expected to open in early 2023. It will be the only InterContinental hotel in the city.

The new luxury, full-service, four-star InterContinental hotel will feature 390 rooms.

It will have a 40,000ft2 meeting space, around 3,000ft2 of dining/restaurant space, and luxury amenities on the rooftop.

SHG principal and co-founder Zio Pekovic said: “Turning this property into a luxury hotel is an amazing opportunity for us to contribute to the city of San Antonio.

“San Antonio has been ranked within the top three cities for conferences for many years, and we’re proud to bring a luxury hotel brand like InterContinental into the central business district, minutes from the Henry B. González Convention Centre.”

In April this year, IHG Hotels & Resorts signed a conversion deal with Iwate Hotel & Resort to open or refurbish three properties in Appi Kogen, Japan.