Originally acquired in 2012 for $5,500,000, the Crowne Plaza Hotel is Caliber's first hospitality property and is a 10-story, interior corridor hotel located near the Sky Harbor Airport in Phoenix, Arizona. After the acquisition, Caliber added a new restaurant, updated the lobby, and renovated all 10 floors of rooms. This hotel is the closest hotel to Phoenix Sky Harbor Airport and provides transportation to the airport via the PHX Sky Train.

This property was purchased by Caliber Hospitality Trust Inc. on March 31, 2023, for $30,479,128.