Henderson Park pays $705m for resort in Phoenix from Blackstone

Henderson Park has completed the acquisition of the Arizona Biltmore resort in Phoenix from Blackstone Real Estate for $705 million.

The iconic 705-key, luxury, full-service hotel has recently undergone a substantial renovation with broad appeal to premier leisure, corporate and group guests, underpinned by growing demand in the submarket.

Originally opened in 1929, set on 39 acres of land and located in the heart of Phoenix a mere 15 minutes from Sky Harbor International Airport, the "Jewel of the Desert” resort boasts an impressive amenity offering including more than 200,000 square feet of meeting space, seven swimming pools, multiple food and beverage outlets and a state-of-the-art 28,000-square-foot spa.

Pyramid Global Hospitality, a leading hotel management company, with whom Henderson Park previously acquired the La Quinta Resort in Palm Springs in 2021, will act as the firm’s hotel manager for the Arizona Biltmore.

Morgan Stanley as lead, toge