Have you ever wondered who owns the luxurious Phoenician Resort? The Phoenician is a five-star resort located in Scottsdale, Arizona, that has been attracting visitors from all over the world for years. In this article, we will discuss the ownership of this iconic resort and shed some light on its history.
History of The Phoenician Resort
The Phoenician Resort was built in 1988 by Charles Keating Jr., who was a well-known real estate developer at the time. He invested around $300 million to build this grand resort that features 643 guest rooms, several swimming pools, lush gardens, golf courses, and other amenities.
However, Keating’s empire soon crumbled due to his involvement in the Savings and Loan Scandal of the late 1980s. He was convicted of fraud and sent to prison in 1993. In 1996, he sold The Phoenician to Starwood Lodging Trust for around $400 million.
Since then, The Phoenician has changed hands several times. In 2005, Starwood sold it to Host Marriott Corporation for $1 billion. Later on, Host Marriott Corporation spun off its hotel business into a new company called Host Hotels & Resorts Inc., which currently owns The Phoenician Resort.
Who Owns Host Hotels & Resorts?
Host Hotels & Resorts Inc. is a publicly traded company that owns several high-end hotels and resorts across the world. It was founded in 1927 as Host Marriott Corporation and went public in 1993. Its headquarters are located in Bethesda, Maryland.
As of August 2021, Host Hotels & Resorts Inc. had a market capitalization of around $14 billion and owned over 70 properties worldwide with more than 46 thousand guest rooms.
Conclusion
To sum up – The Phoenician Resort was built by Charles Keating Jr. in 1988, who later sold it to Starwood Lodging Trust. The property changed hands several times, and currently, it is owned by Host Hotels & Resorts Inc., a publicly traded company that owns several high-end hotels and resorts worldwide.
If you ever get a chance to visit The Phoenician Resort, you can now impress your friends with some knowledge about its ownership history.
10 Related Question Answers Found
The Homestead Resort is a popular vacation destination located in Hot Springs, Virginia. It features luxurious accommodations and various activities that cater to people of all ages. However, many people may wonder, “Who owns the Homestead Resort?” In this article, we will take a closer look at the history of the resort and its current ownership.
Orpheus Island Resort is one of the most sought-after vacation destinations in Queensland, Australia. Located just off the coast of North Queensland, this luxurious resort is known for its stunning views, pristine beaches, and world-class amenities. However, many people often wonder who owns Orpheus Island Resort.
Are you interested in knowing who owns the Resort Group? The Resort Group is a well-known name in the hospitality industry. It is a company that owns and manages several high-end hotels and resorts around the world.
Have you ever wondered who owns the beautiful Alhonna Resort? Alhonna Resort is a family-owned business that has been providing excellent hospitality services for over 60 years. Situated on the shores of Lake of the Ozarks, it is one of the most popular vacation destinations in Missouri.
Panamint Springs Resort is a popular destination for people looking to explore the beauty of Death Valley National Park. Situated in the western part of the park, it offers a range of amenities and activities for visitors. However, many people are curious about who owns this iconic resort.
Are you planning to stay at the Grove Resort on your next vacation? Do you wonder who owns this luxurious property? Let’s dive into the details and find out!
Wilderness resorts are a popular choice for nature lovers who want to get away from the hustle and bustle of city life. These resorts offer a unique opportunity to explore the great outdoors while still enjoying modern amenities. However, many people often wonder who owns these wilderness resorts and how they are managed.
Have you ever wondered who owns the Coeur d’Alene Resort? The luxurious resort located in Coeur d’Alene, Idaho is a popular destination for tourists and locals alike. The resort features a world-renowned golf course, a marina, and countless amenities that are sure to make your stay unforgettable.
Are you planning a vacation to the Beaches Resort and wondering who owns this luxurious property? Well, you are in the right place. In this article, we will take a closer look at the ownership of Beaches Resort.
Are you curious about who owns Largo Resort? This exclusive and luxurious resort is tucked away in the Florida Keys and has become a popular destination for those seeking a peaceful and private getaway. In this article, we will explore the ownership of Largo Resort and provide you with the information you have been searching for.
