Global Hospitality Investment Group (GHIG), a hospitality-focused real estate private equity firm, has acquired the Doubletree Resort Scottsdale Paradise Valley. The hotel is located in Paradise Valley, between the Kierland and Old Town Scottsdale areas, and will remain a Hilton-flagged hotel following the transaction.
The property spans more than 23 acres and features 378 guestrooms, including 12 suites with panoramic views of the scenic areas surrounding Camelback & Mummy Mountains. Each oversized room features a patio or balcony, with close access to two outdoor pools. The hotel also offers four food and beverage options; flexible indoor and outdoor meeting spaces, including a palm-lined fountain courtyard, lawn pavilion and ballroom; tennis and basketball courts; and a fitness center.
“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/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.”
GHIG will support meaningful enhancements to the guest experience for both leisure and business travelers through the firm’s vertically integrated platform. With the support of GHIG’s advisors across interior design, branding, and CapEx, the firm intends to refresh the property and invest additional capital to further enhance the hotel’s position in the Downtown Scottsdale area.