sheraton marriott phoenix: City of Phoenix Sells Downtown Sheraton to Marriott
- 06/29/18 09:17 AM
The City of Phoenix is ending their time in the hotel business by selling the downtown Sheraton next to the convention center to Marriott at a $50 million loss after opening during the low point of the real estate downturn 10 years ago. The development did help spur downtown activities in and around the Phoenix Convention Center and downtown development. City of Phoenix exiting hotel business....Selling their Sheraton Hotel to Marriott Source Photo: www.sheratonphoenixdowntown.com
The Arizona Republic reported, "Phoenix has officially sold the massive Sheraton Grand Phoenix hotel for $255 million — about $50 million … (1 comments)
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Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
The City of Phoenix is ending their time in the hotel business by selling the downtown Sheraton next to the convention center to Marriott at a $50 million loss after opening during the low point of the real estate downturn 10 years ago. The development did help spur downtown activities in and around the Phoenix Convention Center and downtown development.
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