NEW YORK—RobertDouglas announced that it served as exclusive advisor on the successful sale of the Hyatt Place Page in Page, Arizona. The property was acquired for $24,250,000 ($238,000 / key) through a preemptive offer submitted by an owner/operator based in Salt Lake City that controls a number of hotels in the region.
Rob Stiles, managing director and principal with RobertDouglas, said, “The property stands out as one of the highest-quality Hyatt Place assets built to date, having been constructed to a resort standard that significantly exceeds brand requirements.”
Under the management of Crescent Hotels & Resorts, the 102-key hotel with premium amenities has operated successfully as the leader within the Page/Lake Powell lodging market. These include an adventure concierge, expansive outdoor patio with fireplace overlooking the rim of the Grand Canyon, a full-service restaurant (Prickly Pear Kitchen) and curated art installations. Since opening in 2018, the hotel has maintained excellent condition with premium infrastructure and the advantage of a growing World of Hyatt.
The Hyatt Place Page is situated at the gateway to the Canyon Country. The Glen Canyon National Recreation Area draws over 5 million annual visitors to destinations such as Lake Powell, Antelope Canyon, Horseshoe Bend, and Grand Staircase–Escalante National Monument.
