Arbor Lodging Acquires AC Hotel In The Heart Of Downtown Phoenix
CHICAGO–Chicago-based hotel investment and management company, Arbor Lodging Partners, is proud to announce today its latest acquisition and first expansion into the Phoenix market, with AC Hotel Phoenix Downtown. Located in the lively, bustling downtown that has been experiencing rapid growth and development in recent years, the AC Hotel Phoenix Downtown boasts 199 luxurious rooms and suites, along with its AC Lounge and the AC Kitchen, which offers a European-Style breakfast and can also accommodate special culinary events; along with various meeting spaces for the return of business travel. With this latest acquisition, Arbor Lodging Partners continues to play a leading role in the hospitality industry, most recently being honored by the Americas Lodging Investment Summit (ALIS) with the Merger & Acquisition of the Year 2020 award for its substantial 12-hotel portfolio acquisition in January of 2020.
“We are thrilled to be diving head first into the Phoenix market with the exceptional AC Hotel Phoenix Downtown and its fast-growing brand,” said Vamsi Bonthala, Chief Executive Officer of Arbor Lodging Partners. “We have continued to expand and deploy capital throughout the pandemic, and with this acquisition, we are beginning a new near-term investment strategy that we have in place for newer vintage properties that will complement our ongoing value-add investment platform. We look forward to continue pushing forward and expanding to more high-performing cities like Phoenix.”
The team at Arbor Lodging has been strategic and proactive in their approach, particularly with this latest acquisition. Downtown Phoenix has been completely reborn in recent years, and has emerged as a higher education hub. The hotel’s location is just steps away from Arizona State University’s Downtown Campus, along with the cutting-edge Phoenix Biomedical Campus. The hotel is also in close proximity to the Phoenix Convention Center which plays host to numerous events throughout the year, along with two main stadiums which includes Footprint Center, home of the Phoenix Suns and host to numerous events and concerts; and Chase Field, home of the Arizona Diamondbacks. Further, Phoenix will play host to the 2023 Super Bowl, 2024 Men’s Final Four, and 2026 Women’s Final Four. Moving forward, the Arbor Lodging team will be focused on finding more investment opportunities in fast growing markets going through major transformations throughout the country.