Hospitality-focused real estate private equity company Global Hospitality Investment Group (GHIG) has acquired the Doubletree Resort Scottsdale Paradise Valley in the US state of Arizona.
Located in Paradise Valley, the property will remain a Hilton brand hotel after the deal.
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Spanning over 23 acres on Scottsdale Road, the Doubletree Resort Scottsdale Paradise Valley features 378 guestrooms, including 12 suites with views of the scenic areas surrounding the Camelback and Mummy Mountains.
With close access to two outdoor pools, each oversized room includes a patio or balcony.
The property also includes a fitness centre, a lawn pavilion, a courtyard and four food and beverage outlets.
It also boasts outdoor and indoor meeting spaces for weddings and events, a ballroom and tennis and basketball courts.
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By GlobalDataThe hotel is a 20-minute drive from Phoenix Sky Harbor International Airport and a few minutes from Downtown Scottsdale.
GHIG intends to use its vertically integrated platform to improve the guest experience at the hotel.
It also plans to make additional investments to further boost Doubletree Resort Scottsdale Paradise Valley’s position in the Downtown Scottsdale area with the support of the company’s advisors across branding, interior design and CAPEX.
GHIG founder and CEO Kevin Colket said: “The Doubletree Resort Scottsdale Paradise Valley exemplifies our strategy of acquiring high-quality, irreplaceable assets in markets with strong demographic tailwinds and favourable supply and demand dynamics.
“With this acquisition, we will leverage our team’s expertise in interior design, branding and asset management to elevate an already best-in-class, ideally located institutional property with an outlook for continued growth in the years to come.
“We’re also pleased to mark our first franchise partnership with Hilton and look forward to working together to realise our vision for bringing this property to its greatest potential.”
