Finance & DevelopmentFinancePhoenix Downtown AC Marriott Sale Brokered by NewGen Advisory

Phoenix Downtown AC Marriott Sale Brokered by NewGen Advisory

PHOENIX—NewGen Advisory (NewGen) brokered the sale of the newly opened Phoenix Downtown AC Marriott. The property was opened in February 2021 and has 199 rooms and suites, the brand’s AC Lounge and AC Kitchen, and a patio that will feature live concerts and other entertainment.

“This transaction represents a mutually beneficial outcome for both Arbor Lodging Partners and NewcrestImage,” said Dinesh “Dan” Rama, the co-founder and designated broker of NewGen. “NewcrestImage’s focus on high-quality development delivered a turn-key property that aligned with Arbor Lodging’s strategic focus on new vintage hotels in high growth markets. Our team is proud to be able to facilitate this connection and are confident it will add value to the thriving Phoenix Downtown market.”

Suraj Bhakta, CEO of NewGen, said, “The sale of the newly opened AC Marriott continues to demonstrate that Phoenix Downtown is a market institutional hospitality investors are actively seeking and willing to pay a premium for the right brands in the right location. As the most active hospitality broker in the Arizona market, NewGen Advisory, is proud of our work to support the buyer and seller of this transaction.”

Phoenix is a destination for major events. The hotel’s location near Arizona State University’s Downtown Campus, the Phoenix Biomedical Campus, the sports venues for the Phoenix Suns and Arizona Diamondbacks, and the Phoenix Convention Center positions it in downtown Phoenix.

RELATED ARTICLES

Residence Inn by Marriott Irvine John Wayne Airport/Orange County Completes Renovation

IRVINE, California—Residence Inn by Marriott Irvine John Wayne Airport/Orange County announced the completion of the renovation of its guestrooms. The renovation includes new corridors,...

Highgate Appoints Pete Sams as President

NEW YORK, New York—Highgate announced the appointment of Pete Sams as president. Sams will focus on optimizing business performance to improve financial results for...

Sonesta Announces Opening of Red Lion Inn & Suites Blue Springs

NEWTON, Massachusetts—Sonesta International Hotels Corporation announced the opening of Red Lion Inn & Suites Blue Springs. The 60-room, midscale hotel is located in Blue...

Powerful Platforms: Energy Management Systems That Offer Robust Analytics While Streamlining Installation

Refining energy management technology to help reduce usage and expenses will always be a priority for the hospitality industry, and the impetus is especially...

It’s Not Just About The Room: Curating Experience-First Itineraries for Affluent Guests

Let’s face it, five-star hotel rooms are reliably excellent, but largely the same. Luxurious beds? Check. Marble bathrooms? Of course. A television you won’t...

Former Shangri-La Vancouver Joins Hyatt Portfolio

CHICAGO, Illinois—Hyatt Hotels Corporation announced plans for a luxury Park Hyatt hotel in downtown Vancouver, slated to open in 2026. The hotel, formerly Shangri-La...