MIG Real Estate Completes Renovations and Opens Hampton Inn Phoenix-Biltmore in Arizona
Converting the Former Hotel Highland
Newport Beach, CA - December 5, 2012 - MIG Real Estate , LLC, a Calif.-based real estate investment company, announced the completion of a $1.8 million conversion of the Hotel Highland in Phoenix to the Hampton Inn brand. Renovations of the new Hampton Inn Phoenix-Biltmore include major upgrades to the hotel's lobby, breakfast lounge and guest rooms.
Located in the heart of the Camelback corridor, the hotel will capture a large share of business travelers visiting prominent companies in the approximately nine million square feet of surrounding office properties. MIG Real Estate acquired the property in 2010 following a $5.5 million renovation in 2009. Concord Hospitality Properties, based in Raleigh, NC, is the hotel operator and oversaw the renovation project, designed by Nadel Studio One Inc. of San Diego, Calif.
This marks the second conversion of a property to the Hampton Inn hotel brand for MIG Real Estate. MIG previously converted the 87-room Point Inn & Suites located at 350 South Highway 89 in Jackson, WY. into a Hampton Inn earlier this year.
“The Hampton Inn Phoenix-Biltmore is ideally positioned for business travelers in the Phoenix market,” said Greg Merage , Chief Executive Officer of MIG Real Estate. “Renovating this hotel marks a trend in business travelers looking for a higher standard of travel experience, amenities and value-added service offerings.”
The Hampton Inn Phoenix Biltmore is located at 2310 E. Highland Ave. (near 24th St. & Camelback). Enhancements to the hotel include 120 modern spacious guest rooms and six suites equipped with the Hampton Inn signature bedding program: Cloud Nine, the Hampton Bed Experience.
Additional renovations include 32” LCD flat screen televisions, functional work desks with built-in electronic outlets on the desk lamps, ergonomic chairs, a large fitness room with modern athletic equipment and an outdoor heated pool. The hotel also offers 2,700 square feet of flexible space, including the Phoenix room, capable of hosting up to 100 guests for meetings or seminars.
“Hampton Inn has a reputation for consistent quality and value. We see a great opportunity in partnering with such an established and trusted hotel brand,” said Merage.
About MIG Real Estate
MIG Real Estate owns and operates a diverse portfolio of assets in Phoenix, Las Vegas, Denver, Seattle, Tampa, Hawaii, Edmonton, Jackson, WY, and in multiple markets in California and Texas. The company is currently engaged in an aggressive expansion strategy, seeking value added and opportunistic investment opportunities in select service hotels, grocery anchored shopping centers, office, industrial and multi-family properties. MIG Real Estate has acquired nearly 5 million square feet totaling more than $650 million of assets since April 2009.
Additional information is available at http://www.migcap.com/RealEstate/.
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