The Phoenix Business Journal reports Southwest Value Partners (SVP) sold the property, The DoubleTree Resort by Hilton Paradise Valley, to Global Hospitality Investment Group (GHIC) for $115 million, or roughly $300,000 a key. The 378-room property is located near Scottsdale and Chaparral Roads in Scottsdale. Former Phoenix Sun’s owner Robert Sarver, who owns Southwest Value Partners, acquired the property in January 2020 for $100 million.

The DoubleTree Resort’s amenities include two swimming pools, a putting green, tennis courts, a ballroom, an on-site restaurant, and a fitness center. The resort has 11 different meeting and conference rooms with a total of 38,171 square feet of event space.

GHIG said in a statement that it “intends to refresh the property and invest additional capital to further enhance the hotel’s position as the premier, full-service resort destination in the Downtown Scottsdale area.”