SAN ANTONIO- California-based Axle Capital Group has acquired the 103-year-old Sheraton Gunter Hotel. The new owner, in partnership with Greenwood Hospitality Group of Denver, will soon embark on a multimillion-dollar renovation to “bring what I’ll call a component of relevance to the hotel,” comments Greenwood principal Tom Conran.

Built in 1909, the hotel was once the Alamo City’s largest building and a popular destination for visitors; these days it also boasts 23,000 square feet of meeting/conference space. In recent years, however, the property at 205 Houston St. near the Riverwalk had its problems until 2011, when lender JP Morgan Chase bought back the property from then-owner Gunter Hotel Ventures through an auction. Conran tells GlobeSt.com that the hotel remained operational through its foreclosure timeline, and the property itself is still in good shape.

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