Southwest Value Partners (SVP) recently sold the DoubleTree Resort by Hilton Paradise Valley in Scottsdale, Arizona to Global Hospitality Investment Group (GHIC) for $115 million. This equates to roughly $300,000 per key for the 378-room property located near Scottsdale and Chaparral Roads. Robert Sarver of SVP had acquired it back in January 2020 for a reported $100 million.
The resort offers numerous amenities including two swimming pools, a putting green, tennis courts and ballroom as well as an on-site restaurant and fitness center with 11 different meeting/conference rooms totaling 38,171 square feet of event space. GHIG has stated that they plan to invest additional capital into refreshing the hotel’s position as one of Downtown Scottsdale’s premier full-service resorts destinations.
