Marriott International has acquired the Sheraton Grand Phoenix hotel for $255m. The 33-story, 1,000-room hotel opened in 2008 and is located in the heart of downtown Phoenix. The hotel features about 77,000 sq ft of meeting space, a business center, a fitness center, a fourth-floor outdoor pool with a poolside bar, as well as a lobby restaurant and bar. Marriott is planning to start renovations in 2019 of the guest rooms and public space.
“The hotel will provide a living and breathing showcase of our new vision for the Sheraton brand, underscoring our commitment to restore the brand to its leadership position,” said Arne Sorenson, president and CEO of Marriott International. “Going back to Sheraton’s roots as being the heart of the community, the renovated hotel will showcase the brand’s new focus on services and design that enable socialization, productivity and personalization, featuring collaborative venues and technology that enable unique experiences. The Sheraton Grand Phoenix will become a wonderful destination for locals and out-of-towners.”
