Located at the southwest corner of Central Avenue and Van Buren Street, the Hotel San Carlos was built in 1928 and was once a getaway spot for tourists and Hollywood movie stars. It was also one of the first Phoenix hotels with steam heat, elevators and air-cooling.

The Hotel San Carlos is still going strong, but is in need of a little updating. Hotel owner Rockbridge Capital LLC has committed to spend $80 million to renovate the hotel. The Phoenix Business Journal reports Rockbridge plans to expand with a new destination restaurant, lobby bar and basement speakeasy; reintroduce a historic palm room and accompanying tea court; add a pool and rooftop amenities and feature 5,000 square feet of meeting space. The renovation will also include modernizing all guest rooms and bathrooms. The company expects to start renovating the hotel in Q4 2023 and deliver the project by the first quarter of 2025.

Rockbridge acquired the property for $12.3 million in October 2021.