Arizona's lodging industry continues evolving with new ownership at a handful of hotels.
Two Scottsdale resorts recently changed hands, while the owner of one of Phoenix's pioneering resorts added to its legacy by buying the historic mansion adjacent to the resort.
The new stewards of these hotels include a California-based Native American tribe adding more nongaming hotels to their portfolio; a London real estate firm seeking to reunite two historic properties; and a limited liability corporation taking over one of the Southwest's top resorts.
Hotel ownership changes typically don't have an immediate impact on guests, but they sometimes hint that renovations and/or new amenities and experiences are possible in the future. For instance, JW Marriott
Phoenix Desert Ridge Resort & Spa will debut a new "Elf"-themed ice sculpture event in November, more than one year after Ryman Hospitality bought the resort.
Here's a look at some of the most recent hotel ownership changes in metro Phoenix.
Four Seasons Scottsdale Resort at Troon North
Braemar Hotels & Resorts, a Dallas real estate investment trust, sold the Four Seasons Resort Scottsdale at Troon North to a Delaware-based limited liability corporation, Evergreen Acquisitions LLC, for $372 million. The sale is expected to close on Oct. 22.
It purchased the resort in 2022 for $267.8 million from another Delaware-based LLC, SHR FSST of Chicago.
Braemar sold the Scottsdale Four Seasons, along with two hotels in Florida beach destinations and two hotels in California's Napa Valley, to pay for fees associated with separating from its external adviser, Ashford Inc. Braemar made the move to cut ties with the adviser and become a self-managed company.
Hotel staff told The Arizona Republic that no immediate changes are planned for the Scottsdale resort and it would remain managed by Four Seasons.
Fairmont Scottsdale Princess
The San Manuel Investment Authority, a unincorporated governmental entity of the San Bernardino-based Yuhaaviatam of San Manuel Nation, bought the Fairmont Scottsdale Princess for $241.3 million. The Oct. 1 sale is part of a nongaming hotel strategy.
The Fairmont Scottsdale Princess was owned by Strategic Hotels & Resorts, headquartered in Chicago, for the last 20 years. The 750-room resort has maintained Five Diamond status from AAA since 1991 and is famous for its Christmas at the Princess event, which features a resortwide light display with millions of Christmas lights.
Arizona Biltmore
Since 2024, the historic Arizona Biltmore has been owned by Henderson Park, a London-based private equity real estate management firm. Henderson Park recently purchased the adjacent Wrigley Mansion for $17 million, reconnecting two properties with interconnected histories.
Chewing gum magnate William Wrigley Jr. helped establish the Arizona Biltmore as one of its early investors and he bought the resort a year after its 1929 opening. During his stewardship of the Biltmore, Wrigley also built the Wrigley Mansion as an anniversary gift for his wife, Ada.
The mansion cycled through several owners outside of the Wrigley family for years before Phoenix planned to demolish it and build condos. Hormel Foods heir Geordie Hormel and his wife, Jamie, rescued the Wrigley Mansion from demolition, purchasing it in 1992. They oversaw a restoration of the property and turned it into a fine dining hub and special event venue.
Jamie Hormel, who continued to oversee the Wrigley Mansion long after her husband's 2006 death, sold the Wrigley Mansion to Henderson Park after 34 years of ownership. Arizona Biltmore and Wrigley Mansion are not only under the same ownership, but also the same management, Pyramid Global Hospitality.
The mansion's addition to the Biltmore brought Michelin Guide-recommended dining to its culinary landscape thanks to the inclusion of Christopher's at Wrigley Mansion, the highly acclaimed restaurant from James Beard Award-winning chef Christopher Gross.
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Michael Salerno is an award-winning journalist who’s covered travel and tourism since 2014. His work as The Arizona Republic’s consumer travel reporter aims to help readers navigate the stresses of traveling and get the best value for their money on their vacations. He can be reached at Michael.Salerno@usatodayco.com.
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This article originally appeared on Arizona Republic: These top Arizona resorts have new owners. What it means for travelers
