Investment Overview

Marcus & Millichap has been chosen to exclusively list the Holiday Inn & Suites Phoenix Airport North, a 228-room, fee simple hotel located in the highly trafficked Phoenix Sky Harbor Airport submarket. Positioned approximately two miles from the airport and centrally located between Downtown Phoenix and Arizona State University, the property benefits from a diversified demand base driven by corporate, group, airline, and leisure travel. Offered at a basis well below replacement cost, the investment represents a clearly defined value-add opportunity through execution of a brand-required Property Improvement Plan (PIP), estimated at approximately $40,000 per key (~$9.1M total). Upon completion, an investor can reposition the asset to align with current brand standards and drive ADR, occupancy, and overall RevPAR performance. A key differentiator in this offering is the near-term franchise rollover, with the current Holiday Inn flag expiring in June 2026. IHG has approved a dual-brand scenario (Staybridge Suites + Holiday Inn), while also providing flexibility to explore alternative branding strategies or independent operation. This creates a rare repositioning window and materially expands the potential buyer pool. In addition to brand optionality, the underlying zoning (C2-R5) may allow for alternative uses, including multifamily conversion, providing a potential downside hedge not typically available in airport hotel investments. The combination of low basis, operational scale, and multiple executable strategies positions the opportunity as a flexible investment appealing to a wide range of capital - from traditional hotel investors to groups focused on repositioning, rebranding, or longer-term redevelopment.