Hospitality Business for Sale in Phoenix, AZ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Phoenix, AZ 85008
  • Year built: 1981

Description

Marcus & Millichap has been chosen to exclusively list the Holiday Inn & Suites Phoenix Airport North, a 228-room, fee simple hotel located in the highly trafficked Phoenix Sky Harbor Airport submarket. Positioned approximately two miles from the airport and centrally located between Downtown Phoenix and Arizona State University, the property benefits from a diversified demand base driven by corporate, group, airline, and leisure travel. Offered at a basis well below replacement cost, the investment represents a clearly defined value-add opportunity through execution of a brand-required Property Improvement Plan (PIP), estimated at approximately $40,000 per key (~$9.1M total). Upon completion, an investor can reposition the asset to align with current brand standards and drive ADR, occupancy, and overall RevPAR performance. A key differentiator in this offering is the near-term franchise rollover, with the current Holiday Inn flag expiring in June 2026. IHG has approved a dual-brand scenario (Staybridge Suites + Holiday Inn), while also providing flexibility to explore alternative branding strategies or independent operation. This creates a rare repositioning window and materially expands the potential buyer pool. In addition to brand optionality, the underlying zoning (C2-R5) may allow for alternative uses, including multifamily conversion, providing a potential downside hedge not typically available in airport hotel investments. The combination of low basis, operational scale, and multiple executable strategies positions the opportunity as a flexible investment appealing to a wide range of capital - from traditional hotel investors to groups focused on repositioning, rebranding, or longer-term redevelopment. Investment Highlights: • Franchise Expiration = Strategic Optionality IHG expires June 2026, enabling reflag, independent operation, or multifamily conversion via C2-R5 zoning. • Sub-$60K/Key Basis with Multiple Exit Paths ~$59K/key entry supports reposition,

Market Context

This hospitality in Phoenix, AZ is listed for sale. It is offered at an approximate 7.3% capitalization rate, a key benchmark for income-producing hospitality assets. The building dates to 1981. It has been on the market for 67 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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