Hospitality Business for Sale in Phoenix, AZ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Phoenix, AZ 85034
  • Year built: 1989

Description

Marcus & Millichap is pleased to exclusively offer the fee simple interest in the 259-room Hilton Phoenix Airport, a full-service, upper-upscale asset located one mile from Phoenix Sky Harbor International Airport within one of the most established airport submarkets in the Southwest. The property benefits from diversified demand driven by airport traffic, corporate accounts, group business, Arizona State University, Downtown Phoenix, and major sports and entertainment venues, supporting durable year-round performance. The hotel completed a Hilton change-of-ownership PIP renovation between 2017 and 2019 and has received approximately $2.2 million in capital investment since, including elevator components, boiler replacement, mechanical upgrades, parking lot replacement, restaurant improvements, and technology modernization. The asset is anticipated to require a modest soft-goods refresh in the near term (subject to brand scope), presenting a defined and manageable capital plan rather than a full redesign cycle. Phoenix continues to exhibit strong population growth, corporate relocation activity, and sustained airport passenger expansion, reinforcing long-term lodging demand fundamentals. The Hilton Phoenix Airport offers stabilized in-place cash flow with measurable ADR growth potential and strategic upside within a high-barrier-to-entry full-service airport market where replacement cost remains materially above current basis. Investment Highlights: • Institutional 259-Room Upper-Upscale Asset in Phoenix MSA • Hilton PIP Completed 2019 with ~$2.2M in Subsequent Capital Investment (Systems & Infrastructure Upgrades) • Two On-Site Restaurants, 11,000 SF of Meeting Space, and Auditorium-Style Event Capacity • 1 Mile to Phoenix Sky Harbor International Airport (50+ Million Annual Passengers) • 3 Miles to Arizona State University (140,000+ Student Enrollment Across Metro) • Minutes to Downtown Phoenix, Mortgage Matchup Center, Chase Field & Phoenix Convention Center • D

Market Context

This hospitality in Phoenix, AZ is listed for sale. It is offered at an approximate 6.9% capitalization rate, a key benchmark for income-producing hospitality assets. The building dates to 1989. It has been on the market for 68 days. Compare it against other hospitality listings for sale in Phoenix, AZ — <a href="/search/sale/hospitality/arizona/phoenix">view the full market</a>.

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