Real EstateAcquisitionsRAR Hospitality Acquires Holiday Inn Express Tempe

RAR Hospitality Acquires Holiday Inn Express Tempe

TEMPE, Ariz.—In partnership with PacVentures, San Diego-based RAR Hospitality has acquired The InterContinental Hotels Group (IHG)-affiliated Holiday Inn Express & Suites Tempe, marking their third joint venture into Arizona’s burgeoning hospitality market. Located adjacent to Arizona Mills Mall, which recently won the bid for a new Lego Discovery Center, and surrounded by multiple points of interest, the Holiday Inn Express & Suites Tempe (HIE) has flourished over recent years.

“RAR is thrilled to have another Arizona hotel in its portfolio,” expressed Corporate Vice President Marc Potash. “This market, particularly in the Greater Phoenix area, is primed for explosive growth over coming years, and we look forward to contributing to local success and further enhancing the level of service available at this location.”

RAR has assumed management of the hotel under the leadership of CEO and Founder Robert Rauch, who has significant experience in the Phoenix market. The property will undergo renovations over the next few years to bring the hotel in line with Holiday Inn Express’ Formula Blue concept.

As part of RAR’s assumption of management, seasoned hospitality professionals Jason Cozakos and Michael DiNucci have been appointed general manager and director of sales, respectively. As general manager, Cozakos will apply more than two decades of experience to the oversight of day-to-day operations. DiNucci returns to Greater Phoenix after sales roles of increasing levels of responsibility at a number of IHG properties throughout the Southwestern U.S.

“Jason and Michael have the right experience and the enthusiasm needed to take this hotel to the next level,” said Rauch. “Under their leadership, we are confident the Holiday Inn Express & Suites Tempe will continue to grow its leading presence in the area.”