Acquired in 2016 for $34,800,000, the 259-room Hilton Phoenix Airport Hotel is the submarket leader in both average daily rate and occupancy. Before Caliber’s acquisition, the asset received a full $8 million renovation, resulting in an upgraded parking lot, roof work, retiling of ground floor bathrooms, and electrical work.

This property was purchased by Caliber Hospitality Trust Inc. on March 31, 2023, for $58,712,454.