Hsl Acquires Sheraton & Courtyard by Marriott Hotel Portfolio for $50.25m in Mesa, Arizona
Cushman & Wakefield announced the firm has brokered the portfolio hotel sale comprising a 180-room Sheraton and 129-room Courtyard by Marriott hotels in Mesa, Arizona. HSL Properties acquired the hospitality properties for a combined $50.25 million. The portfolio also includes 15,000 square feet (sf) of retail spaces, a commercial laundry facility, a full spa, 18,000 sf meeting spaces, including an 11,000-sf ballroom.
The seller, Power Hotel Group, was represented by Bill Murney and Mike Montoya with Cushman & Wakefield's Western Hospitality Advisory Group in Phoenix.
"These assets are well located at the confluence of the 101/202 freeways minutes from Sky Harbor airport. The Sheraton hotel will undergo a multi-million-dollar renovation while The Courtyard opened in the fall of 2020 and continues to be a top performing asset in the market," said Executive Managing Director Bill Murney.
"The hotels benefit from their exceptional location adjacent to Sloan Park at the Mesa/Tempe border, the nearby amenity offerings, and their association with Marriott," added Mike Montoya, Director.
The hotels are well located with immediate access to both Loop 101 & Loop 202 with convenient access to nearby demand drivers. They are also adjacent to Sloan Park, Spring Training home of the Chicago Cubs and 10 minutes from Phoenix Sky Harbor International Airport. The hotels also provide quick access to ASU, Tempe Town Lake, Tempe Marketplace, Banner Desert Medical Center, and Old Town Scottsdale.
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 
