**Scottsdale Hotel Set for Makeover and New Identity as “Hotel Solaya”**
Lionheart Strategic Management, in partnership with Schroders Capital, has provided a $23.5 million mezzanine loan to Namastay Development and Hospitality Capital Partners for the renovation and recapitalization of The Monarch, a 194-key hotel located in Old Town Scottsdale, Arizona. The project also secured a $29.5 million senior loan to support the redevelopment.
The property, originally constructed in 1975, is set to be rebranded as “Hotel Solaya,” joining Hyatt’s portfolio. Spanning more than six acres, the hotel currently features amenities including a restaurant and bar, coffee shop, outdoor pool with bar, fitness center, spa, and over 15,000 square feet of meeting space.
A multimillion-dollar renovation is planned for the site, encompassing comprehensive upgrades to guest rooms, common areas, food and beverage venues, and exterior design elements. Dallas-based interior design firm Studio 11 will lead the design work, while Dreamscape Hospitality will oversee on-site property management.
Transaction leaders for Lionheart Strategic Management included Andy Klein and Randal Gleeson. Paul Bratten oversaw the deal for Schroders Capital.
