HREC Arranges Sale of the Hilton Phoenix Airport
Phoenix, Arizona
DENVER, CO./ PHOENIX, AZ. November 24, 2016 - HREC Investment Advisors is pleased to announce it has arranged the sale of the 259-guestroom Hilton Phoenix Airport Hotel located adjacent to Phoenix Sky Harbor International Airport in Phoenix, Arizona.
Bill Murney, Senior Vice President in HREC Investment Advisors' Phoenix office, exclusively represented the seller during the transaction.
“The Hilton is the preeminent lodging property in the entire Sky Harbor market area. The buyer, a special purpose entity formed by Phoenix based Caliber Cos. now owns over 800 rooms in the airport market and will be able to influence the rates and make the market, rather than respond to the market,” stated Murney.
The Hotel is located in the South Airport Market, three miles west of downtown Tempe and Arizona State University, is surrounded by over 60M SF of office and industrial properties. The Hotel maintains superior exposure to lodging demand generated by PHX airport, the nation's 10th busiest airport. In addition, the worldwide headquarters of Avnet, one of the world's largest franchised distributors of electronic components and subsystems in the world, is located next door to the Hilton.
About HREC®: HREC® is the nation's leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.
For addition information on the property, please contact:
Bill Murney
Senior Vice President
bmurney@hrec.com
602.279.8427
Scott Stephens
COO & Senior Principal
sstephens@hrec.com
813.635.0600
Ashley Hunt
Director of Marketing
ahunt@hrec.com
303.267.0057
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
