Business & Finance

HREC Arranges Sale of Hyatt Place Mesa, Arizona

DENVER, CO. and PHOENIX, AZ. April 24, 2017 – HREC Investment Advisors is pleased to announce it has arranged the sale of the 152-guestroom Hyatt Place Phoenix Mesa located in Mesa, Arizona to an affiliate of Summit Hotel Properties, Inc. Summit Hotel Properties is a publicly-traded real estate investment trust that primarily owns premium-branded, select-service hotels in the upscale segment of the U.S. lodging industry.

Bill Murney, Senior Vice President in HREC Investment Advisors’ Phoenix office, exclusively represented Mesa Hotels LLC during the transaction.

The Hyatt Place is one of only two purpose-built Hyatt Places in Arizona.

Strategically positioned in the Mesa Riverview Shopping Center near the Loop 101 and Loop 202 interchange, the Hotel is proximate to the surrounding area’s primary demand generators. Adjacent to the Hotel is a variety of shopping, dining, and entertainment options, including Bass Pro Shops, and the Cinemark movie theater. The Hyatt Place is within walking distance to the Chicago Cubs Spring Training Stadium & just a few miles to the Oakland A’s Hohokam Stadium. The Hyatt Place is also just 10 minutes from the Phoenix Sky Harbor Airport.

About HREC®: HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.

For addition information on the property, please contact:

Bill Murney
Senior Vice President
bmurney@hrec.com
602.279.8427

Scott Stephens
COO & Senior Principal
sstephens@hrec.com
813.635.0600

Ashley Hunt
Director of Marketing
ahunt@hrec.com
303.267.0057

Coming Up In The August Online Hotel Business Review




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Food & Beverage: Multiplicity and Diversity are Key
The challenge for hotel food and beverage operations is to serve the personal tastes and needs of an increasingly diverse population and, at the same time, to keep up with ever-evolving industry trends. In order to accomplish this, restaurateurs and hoteliers have to flex their creative muscles and pull out all the stops to satisfy their various audiences. One way to achieve this is to utilize existing food spaces in multiple ways at different times of the day. Lunch can be casual and fast, while dinnertime can be more formal and slower paced. The same restaurant can offer counter service by day but provide table service by night, with a completely different menu and atmosphere. Changes in music, lighting, uniforms and tabletop design contribute to its transformation. This multi- purpose approach seeks to meet the dining needs of guests as they change throughout the day. Today’s restaurants also have to go to great lengths to fulfill all the diverse dietary preferences of their guests. The popularity of plant-based, paleo, vegan, and gluten and allergen-free diets means that traditional menus must evolve from protein-heavy, carb-loaded offerings to those featuring more vegetables and legumes. Chefs are doing creative things with vegetables, such as experimenting with global cuisines or incorporating new vegetable hybrids into their dishes. Another trend is an emphasis on bold and creative flavors. From chili oil to sriracha to spicy maple syrup, entrees, desserts and beverages are all being enhanced with spice and heat. The August issue of the Hotel Business Review will document the trends and challenges in the food and beverage sector, and report on what some leading hotels are doing to enhance this area of their business.