$15.1 Billion Boutique Hotel Comes to Market in Phoenix, AZ

PHOENIX, AZ– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for The Clarendon Hotel (top left photo), a 105-room boutique hotel located in Phoenix’s Museum District.

The listing price of $15.1 million represents $143,810 per room. The average daily room rate (ADR) is $91.50.

Michael Francis (middle left photo), a senior associate, and Melanie Wright (middle right photo), a hospitality investment specialist, both in the firm’s Salt Lake City office, are representing the seller, Clarendon Hotel Group LLC. David Guido (bottom right photo) of the firm’s Phoenix office is Marcus & Millichap’s broker of record in Arizona.

“The current owners took over the property in 2004, completely renovated it and increased the number of operational guest rooms from 35 to 105,” says Wright. “The Clarendon Hotel boasts high style and flexible indoor/outdoor event spaces that attract corporate guests, pleasure travelers and local groups.”

The property is located at 401 West Clarendon Ave. in midtown within walking distance of a light rail connection.

The Clarendon Hotel features a heated swimming pool with underwater speakers, massaging water jets and a colorful Sicis Italian tile mural with 24-karat gold and platinum accents. The bottom of the pool is illuminated after dark by almost 1,000 starlights. The pool area features bubbling fountains, a Jacuzzi and a glass water wall that is more than 60 feet wide and two stories tall.

Guestrooms amenities include heating/cooling system with plasma air filtration, 42-to-50-inch flat-screen TV, alarm clock/radio, iron and ironing board, stereo with iPod dock, coffee/tea maker, bathrobe, etc.

In 2010, The Clarendon Hotel was named the “Best Boutique Hotel in Phoenix” by the Phoenix New Times and “One of the Best Things About Phoenix” by the Arizona Republic in 2008.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716