Global Hospitality Investment Group yesterday announced that it has acquired the Doubletree Resort Scottsdale Paradise Valley, an institutional quality, top-branded resort in Scottsdale, Arizona. The Hotel is located in Paradise Valley, a prime central location between the Kierland and Old Town Scottsdale areas, one of the highest growth, dynamic lodging and hospitality markets in the United States. Following the transaction, the Hotel will remain a Hilton flagged hotel.
The property spans more than 23 acres on Scottsdale Road and features 378 premium guestrooms, including 12 suites with panoramic views of the scenic areas surrounding Camelback & Mummy Mountains. Each oversized room features a spacious patio or balcony, with close access to two outdoor pools and the property's sweeping landscaped grounds. The Hotel also offers four high-quality food and beverage options, flexible indoor and outdoor meeting spaces for events and weddings, including a palm-lined fountain courtyard, lawn pavilion, and ballroom complete with chandeliers, tennis and basketball courts, and a state-of-the-art fitness center. Just minutes from Downtown Scottsdale, Hotel guests can enjoy unique landmarks, local shops, galleries and museums, and vibrant dining options.
"The Doubletree Resort Scottsdale Paradise Valley exemplifies our strategy of acquiring high-quality, irreplaceable assets in markets with strong demographic tailwinds and favorable supply and demand dynamics," said GHIG founder and CEO Kevin Colket. "With this acquisition, we will leverage our team's expertise in interior design, branding, and asset management to elevate an already best-in-class, ideally located institutional property with an outlook for continued growth in the years to come. We're also pleased to mark our first franchise partnership with Hilton, and look forward to working together to realize our vision for bringing this property to its greatest potential."
Global Hospitality Investment Group (GHIG) is a hospitality-focused real estate private equity firm, led and founded by Kevin Colket, with offices in Los Angeles, New York, London, and Hong Kong. GHIG's vertically integrated investment platform with in-house hospitality asset management and operations expertise, supported by an advisory board consisting of the market leaders across all relevant hospitality disciplines, allows them to create significant value over and above a typical real estate investor. GHIG's executives have invested over $5 billion of capital into hospitality focused equity and debt investments across the US, Europe, and Asia, consistently delivering attractive risk-adjusted returns to investors.