Classic Hotels & Resorts Buys First Scottsdale Renovation Project
Tuesday, February 9, 2016
Classic Hotels & Resorts acquired the FireSky Resort & Spa in Scottsdale, Arizona for $62.5 million. The company’s representatives said they will take over the hotel in April, with plans to renovate the hotel with new guest rooms and dining concepts among many other updates.
The Scottsdale hospitality company has bought and worked on the Arizona Grand Resort and Spa and the Arizona Biltmore. They spent $65 million on renovations for the Arizona Grand Resort in 2006, and after renovating the Biltmore, the company sold its interests for $350 million. This was the largest hotel transaction in Arizona history.
Classic Hotels & Resorts President John Grossman said,
“We are excited to be expanding our footprint in the Phoenix/Scottsdale area and growing our portfolio of carefully selected boutique properties. We look forward to bringing it into its next phase with a new design concept that loyal guests and newcomers alike will enjoy. The property has an ideal location in the heart of Scottsdale, and we will be able to leverage our resources from the Arizona Grand to elevate the overall guest experience and the look and feel of the property.”
For more information on the FireSky Resort & Spa, visit FireSkyResort.com.
