PHOENIX, Arizona— JLL’s Hotels & Hospitality group announced the sale of the Sheraton Phoenix Downtown, a 1,003-room convention center hotel, marking one of the largest hotel sales in Arizona’s history. JLL represented the seller in the transaction.
The 33-story Sheraton Phoenix Downtown stands as the city’s largest hotel, with 112,000 square feet of flexible meeting and event space, including the 27,200-square-foot Phoenix Ballroom and the 14,000-square-foot Valley of the Sun Ballroom. The property offers 26 total meeting rooms, with the largest space accommodating up to 2,510 guests and 20 breakout rooms available for concurrent sessions.
Built in 2008 and enhanced through a $45 million renovation completed in 2020, the hotel offers modern amenities throughout its 806,481-square-foot tower. All guestrooms, located on floors five through 33, offer views of downtown Phoenix and the surrounding mountain ranges. The property includes eight different room types, from traditional king and double rooms to its 1,625-square-foot Governor’s Suites.
The hotel’s food and beverage program includes three concepts: Carcara, the signature restaurant, which was recently renovated, offering Arizona-inspired cuisine with Sonoran influences; &More by Sheraton, a venue serving as a coffee shop, grab-and-go market, and evening bar; and Breeze Bar & Grill, located on the fourth-floor poolside terrace and offering panoramic downtown views. Additional amenities include a 4,300-square-foot fitness center, an outdoor pool, the Sheraton Club Lounge, and business services.
Positioned two blocks from the Phoenix Convention Center, the hotel benefits from its proximity to major demand generators, including the Footprint Center, Chase Field, and Phoenix Symphony Hall. The property borders Arizona State University’s Downtown Phoenix Campus and the expanding Phoenix Bioscience Core, while serving as the preferred headquarters hotel for the Phoenix Convention Center.
The JLL Hotels & Hospitality team was led by Senior Director Matt Riley.
“The Sheraton Phoenix Downtown represents the rare combination of institutional quality, strategic location, and significant scale that attracts best-in-class capital,” said Riley. “Phoenix has established itself as one of the most dynamic lodging markets in the United States, with downtown benefiting from diverse demand drivers including expanding convention business, corporate relocations, and the growing influence of Arizona State University’s downtown campus. This transaction validates the strength of the market fundamentals and the appeal of irreplaceable urban assets.”
