/ caliber buys crowne plaza phoenix / 2 min read

Caliber Enters the Hospitality Business

Forecasting a long term recovering in the hospitality business, Caliber allied with HMC, a full-service hospitality management firm, to purchase the 295 guest room Crowne Plaza hotel in Phoenix, Arizona. The hotel boasts a superior location within the Sky Harbor Airport sub-market. Caliber plans to turn around management operations, complete a large-scale renovation, and implement a new all-valet parking business plan.

Today, Coast Hotels & Resorts announces plans to bring its blend of first-rate service and exceptional value to the Crowne Plaza Phoenix-Airport and reintroduce the property as the Coast Phoenix Sky Harbor Hotel. Branding for the rollover will continue throughout the next several weeks and will be complete by the first quarter of 2013. The new location adds the popular, sunny travel hub and destination of Phoenix to the growing geographic reach of the Coast Hotels & Resorts brand, providing Coast fans with the closest full-service hotel to the Phoenix Sky Harbor International Airport and easy access to all that Phoenix has to offer.

The acquisition of the hotel was made in conjunction with Caliber, a Scottsdale, Arizona based real estate investment firm and Heavlin Management Company, a deeply experienced hotel management firm. Throughout the next year, the hotel will undergo a $5 million initiative to renovate the guestrooms, suites, lobby and conference center.

“This is an exciting time in our company’s history,” said Doug Rigoni, Executive Vice President and Chief Operating Officer of Coast Hotels & Resorts. “Arizona represents a great opportunity to bring our leadership to a promising market. We are proud of Coast Hotels & Resorts and continue to focus on expanding our national portfolio in key strategic markets, such as Phoenix.”

Coast Phoenix Sky Harbor Hotel joins Coast Hotels & Resorts’ existing 12 U.S. based properties. Each hotel is known for its unique personality, prime location and offering guests value-driven experiences that are truly representative of the cities they are visiting.

“We are excited to become part of the Coast Hotels & Resorts family because of the strong guest services reputation and recognition the brand brings,” said Frank Heavlin, President of Heavlin Management Company. “We intend to leverage the friendly and approachable atmosphere Coast Hotels & Resorts is known for to further delight our guests.”

Serving as the only hotel with its own stop on the metro rail, the centrally located business facilities and conference center at Coast Phoenix Sky Harbor Hotel offers easy access to the very best of Phoenix. With more than 12,000 square feet of flexible meeting and event space, in-house catering and complimentary wireless and audiovisual, the property will be a sought after destination for both business and leisure groups gathering in Arizona. The hotel aims to make each of its 295 guestrooms and three suites a home away from home with flat panel televisions, wireless internet and an in-hotel restaurant. The property also features an outdoor pool, fitness center and business center to ensure guests can both relax, and stay productive while on the go.

For more information, please visit www.coasthotels.com. To make a reservation at the Coast Phoenix Sky Harbor Hotel, call 1-800-663-1144.



Caliber leads the market in providing individual accredited investors with well-structured alternatives to traditional investments.

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Caliber Enters the Hospitality Business
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