News Article: Coyotes willing to invest funds for new downtown arena.

[0point1]

I'm no hotel expert, but I think profit has to enter the equation. While the downtown Sheraton is losing money, I bet the Phoenician makes a ton.

I agree, I bet The Phoencian does really well to command that price.

 

[Dirty Old Man]

I'm no hotel expert, but I think profit has to enter the equation. While the downtown Sheraton is losing money, I bet the Phoenician makes a ton.

I wonder how that Hyatt (the only other really comparable down there that I can think of, and has been there for decades) does? I also wonder if they (Starwood) shouldn't have branded that hotel as a Westin.

 

[Mayo Taco Monday]

I wonder how that Hyatt (the only other really comparable down there that I can think of, and has been there for decades) does? I also wonder if they (Starwood) shouldn't have branded that hotel as a Westin.

Starwood already has a westin downtown. It is in the Freeport building.

 

[Dirty Old Man]

Starwood already has a westin downtown. It is in the Freeport building.

Ah, yes, so they do, opened in 2011. Shows how infrequently I've been going downtown the last 8 years or so. But, the Sheraton's building was completed first, and that's when the branding opportunity would have been.

https://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Phoenix

 

[mouser]

Looking at those other hotel sales, $200k-$300k per room for the downtown Sheraton doesn't seem unreasonable. Dunno if they'd get the $300m, but they're probably not too far off.

 

[AZviaNJ]

I wonder how that Hyatt (the only other really comparable down there that I can think of, and has been there for decades) does? I also wonder if they (Starwood) shouldn't have branded that hotel as a Westin.

Starwood was recently acquired by Marriott who, historically, look to streamline brands under the Marriott umbrella for a consistent look/feel/experience. There's already a Renaissance and Spring Hills Suites (both Marriotf brands) downtown. Will be interesting to see where and if the Sheraton fits.