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Phoenix & Southwest  + Phoenix  + Hospitality  | 
MCR buys two Phoenix hotels

Two Phoenix-Area Hotels Change Hands

MCR has acquired two hotels in the Phoenix area: the 169-room Holiday Inn Express & Suites Scottsdale – Old Town and the 121-room Hampton Inn by Hilton Phoenix-Biltmore. Both are located in prime, high-barrier-to-entry submarkets in one of the fastest-growing cities in the U.S. The 98,906-square-foot Holiday Inn Express & Suites sold for $23.32 million ($138,000/key) while the 71,269-square foot Hampton Inn traded hands for $25.52 million ($210,910/key).

With the acquisition of these hotels, MCR has nine hotels in Arizona.

Located in Old Town Scottsdale, the all-suite Holiday Inn Express & Suites is near shops, restaurants, art galleries, museums, historic sites and the San Francisco Giants spring training at nearby Scottsdale Stadium. 

The 121-room Hampton Inn Phoenix-Biltmore is located off Camelback Road and close to the Biltmore Fashion Park. It is also near golf courses and the Camelback Mountain.


Inside The Story

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition