696-KEY HOTEL SELLS FOR $96 MILLION
PHOENIX — Strategic Hotels & Resorts Inc. has completed the disposition of Hyatt Regency Phoenix, a 696-key hotel located in downtown Phoenix. Los Angeles-based DiNapoli Capital Partners acquired the property for $96 million. The hotel features oversized guestrooms, 48,000 square feet of meeting space, three food and beverage outlets, and a six-story grand atrium. The buyer plans to renovate and reposition the hotel. Jones Lang LaSalle Hotels represented the seller in the transaction.