Snyder Nationwide Real Estate Purchases Chaparral Suites Hotel Scottsdale
FOR IMMEDIATE RELEASE
SCOTTSDALE, AZ, (January 06, 2015)—SNRE Chaparral I, LLC, an affiliate of Snyder Nationwide Real Estate, Inc., has purchased the Chaparral Suites Hotel, a 312-room, full-service hotel and conference center located on North Scottsdale Road within walking distance of Scottsdale Fashion Square, Old Town Scottsdale and Scottsdale Waterfront.
Snyder Nationwide Real Estate, Inc., who was the buyer and also represented the purchasing entity in the transaction, just completed the sale of a significant hotel they owned in Silicon Valley, California and participated in a 1031 exchange into the Chaparral Suites. They have had a longstanding relationship with the Silverman family, whose family owned the hotel since it was developed in 1980.
Chaparral Suites is situated on one of the largest contiguous parcels in downtown Scottsdale. The hotel has 50,000 square feet of flexible meeting and function space, two heated outdoor pools, a fitness center, and a 24-hour business center. Mark Snyder, Managing Member of the purchasing entity, states, “We plan to create a distinct, luxurious experience at one of Scottsdale's best-located hotels through a comprehensive renovation converting the hotel to an Embassy Suites later in 2015.” Crescent Hotels & Resort of Fairfax, VA has been selected to manage the hotel and will bring an added dimension of expertise and experience to the new venture.
About Snyder Nationwide Real Estate, Inc.
Snyder Nationwide is a longstanding, international hotel brokerage company based in Scottsdale, AZ, which specializes in the brokerage of hotels throughout the US with special expertise in high-end, non-branded hospitality properties as well as being an owner and redeveloper of hospitality properties. For more information, please contact Mark T. Snyder at [email protected] or Jay G. Snyder at [email protected] or call 480-344-7500.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
