The Sheraton Phoenix Downtown, formerly the Sheraton Grand Phoenix, changed hands this week with Blackstone Group’s purchase of the property for $268 million.
The hotel is slated to finish a multimillion-dollar renovation this summer, unveiling new community space and a “studs to ceiling” overhaul of all 1,003 guest rooms. Each room will feature warm wood tones with black and metallic accents, 65-inch wall-mounted televisions, walk-in showers, and brighter light fixtures. New furniture supports business travelers with adjustable-height tables that can convert to standing desks, and the new hotel lobby provides flexible community spaces and studios, which allow for meetings, networking events, and coworking spaces. There are currently three eateries including a lobby coffee bar and lounge; a rooftop restaurant, Breeze Bar; and Paradise Valley Restaurant and Bar. Several new dining options will be announced later this year.
There is 111,961 square feet of meeting space in 26 flexible venues. There are two ballrooms, the 27,170-square-foot Phoenix Ballroom, which can accommodate up to 2,510 attendees for a presentation or 1,850 guests for a banquet, and the 14,053-square-foot Valley of the Sun which can host up to 900 people for a meal. The 4,000-square-foot open air Courtyard is a fourth-floor terrace adjacent to the Breeze Bar rooftop restaurant.
The Sheraton Phoenix Downtown is within two blocks of the Phoenix Convention Center; half a mile from Chase Field, home of the Arizona Diamondbacks; and less than five miles from Phoenix Sky Harbor International Airport.
This is the third recent Phoenix resort acquisition by Blackstone Group, which bought the Arizona Biltmore in April 2018 and the JW Marriott Desert Ridge Resort and Spa in September 2019.