Monday, June 8, 2015

Phoenician resort sold for $400 million

The Phoenician, a luxury resort at the base of Camelback Mountain that draws affluent vacationers and conventioneers from around the world, is going to get a major face-lift under new ownership.

The 643-room resort, one of the largest in Arizona, was sold to Host Hotels & Resorts on Monday for $400 million.

Read more... http://www.azcentral.com/story/travel/2015/06/08/phoenician-resort-sold-for-400-million/28704743/

Reuters: Financial Services and Real Estate

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