HREC Investment Advisors Arranges Sale of Hilton Phoenix Airport Hotel
Thursday January 9th, 2014 - 9:29AM EGBF
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PHOENIX—HREC Investment Advisors has arranged the sale of the 257-room Hilton Phoenix Airport Hotel. The property will undergo a multimillion-dollar renovation this year.
The hotel is adjacent to Phoenix Sky Harbor International Airport, three miles west of downtown Tempe and Arizona State University, and eight miles east of downtown Phoenix.
HREC SVP Bill Murney and COO/Senior Principal Scott Stephens represented the seller.
"The property will undergo a multimillion-dollar comprehensive renovation in 2014 to position if for the hotel market improvements in the valley. With the Super Bowl in February 2015 and the NCAA national championship game in January 2016, the renovated Hilton will be well positioned to do exceptionally well," stated Murney.
Tags: HREC Investment Advisors • Hilton • Hospitality • Brands • Acquisitions • Brokers • Construction/Renovation •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.