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6/06/23
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Summit Hotel Properties has purchased a 120-key Residence Inn by Marriott hotel asset in north Scottsdale, AZ. Located at 17011 N Scottsdale Rd, the property was built in 2002 but renovated in 2018. The price was not disclosed.
Residence Inn by Marriott features an outdoor pool, 24-hour fitness center, and on-site parking. It is close to many amenities including popular restaurants, outdoor recreation such as golf and parks and other attractions. The property is also near major healthcare facilities and is close proximity to Loop 101.
Bill Murney with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller in the transaction.
“This is a strong, modern branded hotel asset very well located in the heart of North Scottsdale’s premier dining, shopping, and business district,” said Murney. “The Residence Inn by Marriott property adds to the buyer’s North Scottsdale hospitality portfolio, which also includes a Courtyard by Marriott hotel and SpringHill Suites by Marriott hotel that are both located across the street. The buyer will compine operations of the properties with Aimbridge managing all three assets.”
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