Historic Phoenix hotel sold for $705 million. Who bought it and what it means for guests
The Arizona Biltmore, a historic hotel that helped usher in Phoenix's resort tourism industry and hosted several U.S. presidents, has a new owner.
The 703-room resort was sold to an English real estate firm for $705 million, with a down payment of $245 million, according to real estate database Vizzda.
The purchase was made in January 2024 and the deal closed on May 8, according to a special warranty deed from Maricopa County that made the transaction official.
The sale includes multiple buildings built between the resort's opening in 1929 and its most recent renovation in 2021, a fitness center, three clubhouses and six outdoor pools, according to Vizzda.
Here's what we know about the sale of the Arizona Biltmore and what it might mean for visitors.
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Who bought the Arizona Biltmore?
Henderson Park, a private equity real estate management firm in London that was founded in 2016, is the new owner of the Arizona Biltmore. The resort opened in 1929 and was designed by Frank Lloyd Wright protege Albert Chase McArthur.
Henderson Park's website says the firm spent more than $13 billion across Europe and the U.S. on "fundamentally high-quality real estate of all types in prime locations in major capital and desirable high-growth cities."
The firm's founder and CEO, Nick Weber, could not immediately be reached for comment.
Who sold the Arizona Biltmore?
Henderson Park acquired the Arizona Biltmore from BRE Hotels & Resorts, operated by Blackstone Real Estate Group, the world's largest private real estate equity firm. BRE's portfolio also includes the Sheraton Phoenix Downtown.
BRE purchased the Biltmore in 2018 for $403.4 million from the Singapore government's sovereign wealth fund GIC Private Limited. BRE also could not immediately be reached for comment.
The Arizona Biltmore's past owners have included Samuel Marcus Grossman and Peggy Rosalie Jacobsen, who oversaw a successful 1992 renovation of the resort; the couple later founded a hospitality company that their son renamed in their honor.
What will the Arizona Biltmore sale mean for guests?
It's too early to say how the Arizona Biltmore's new ownership will affect the guest experience. But Henderson Park has made improvements to some U.S. resorts it acquired.
The firm purchased the La Quinta Resort & Club in Palm Springs, California, in 2022. According to Henderson Park's website, the resort transitioned to a Hilton Curio Collection property and renovated its guest rooms, meeting space and lobby.
That same year it also purchased two hotels on the East Coast, Naples Grande in Naples, Florida, and the Salamander DC Hotel in Washington, D.C. Henderson Park stated plans to renovate the guest rooms, pool, spa and food and beverage offerings at Naples Grande, and plans to reposition and reprogram the flagship restaurant at the Salamander and expand its spa.
Michael Salerno is an award-winning journalist who’s covered travel and tourism since 2014. His work as The Arizona Republic’s consumer travel reporter aims to help readers navigate the stresses of traveling and get the best value for their money on their vacations. He can be reached at Michael.Salerno@gannett.com. Follow him on X, formerly Twitter: @salerno_phx.
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This article originally appeared on Arizona Republic: Blackstone sells Arizona Biltmore for $705M to Henderson Park
