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Pivotal Investing $100M in Iconic Phoenix Resort
Pivotal Group purchased The Hilton Phoenix Resort at the Peak for $39.5 million. Built on the slopes of Piestewa Peak in 1977, the property was previously owned by New York City-based Fortress Investment Group, which purchased it for $51.35 million in 2019.
In addition to the sales price, Pivotal will spend $60 million on upgrades. Pivotal says its goal is to elevate the 432-key resort to 4 or 4.5-star status. The repositioning will include major renovations to elevate and modernize the 20-acre resort.
The resort will undergo a two-and-a-half-year renovation that includes upgrading and completely renovating its more than 430 suite-style rooms, construction of a new adult pool, creating a new elevated spa and fitness center, and new dining options.
The resort, which used to be called The Pointe at Squaw Peak, will remain open for this entire process.
- ◦Sale/Acquisition
- ◦Development
