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PHOENIX — Park Hotels & Resorts has closed on the sale of Pointe Hilton Squaw Peak Resort, located at 7677 N. 16th St. in Phoenix. An undisclosed buyer acquired the asset for $51.4 million, or $91,200 per key before customary closing costs.
The all-suite resort features 563 rooms, a four-acre waterpark, kid’s camp, full-service spa and fitness center, three restaurants and 48,000 square feet of indoor/outdoor meeting space.
This transaction represents the 14th hotel that Park has sold over the prior year and continues the company’s strategy of improving the overall quality of its portfolio by recycling out of non-core hotels.