Boutique Hotel in Arizona Sold to Private International Group
Thursday February 13th, 2014 - 5:05PM EG
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SEDONA, AZ—Chandler Hotel Group has announced the sale of the Kings Ransom Inn and Kings Ransom Hotel located here, 120 miles north of Phoenix.
The buyer is a private international group that has acquired multiple assets in the United States within in the past 18 months. Alex Rizk was the broker involved in all negotiations and aspects of the transaction.
The 146-unit boutique hotel sits on 8.8 acres in Sedona and includes a full service restaurant and courtyard gardens. The hotel will be fully renovated and managed by Chandler Hotel Group.
Tags: Chandler Hotel Group • Hospitality • Acquisitions • Construction/Renovation •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.