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November 30, 2023
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Phoenix-Area Hotel Property Gets New Owner in $19.5 Mil Deal


In a recent Phoenix area hotel trade, HWC Hospitality paid $19.5 mil for Hyatt Place, a 127-room ($153.5k/room) hotel in Gilbert. The six-story property is located at 3275 S. Market St.

Hyatt Place is strategically located along Freeway 202 near Pecos Rd with convenient freeway access and high visibility. The proximity to many demand generators such as Rivulon and Dignity Health Mercy Hospital and near the SanTan Village which is the epicenter of the Southeast valley, provides demand and amenities unparalleled in the valley.

Bill Murney and Jesse Heydorff with Cushman & Wakefield’s Hospitality team in Phoenix represented the seller, Sethi Management.

“This is a premium-branded hotel asset in a desirable east valley Phoenix hospitality market,” said Murney. “Hyatt Place is a high-quality property and makes an excellent addition to the buyer’s Phoenix East Valley hotel portfolio.”

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