From The Real Deal · TRD Staff · · 40s
Native tribe acquires Phoenix resort
San Manuel Nation buys Fairmont Scottsdale Princess for $241.4m to expand non-casino hospitality.
In brief
San Manuel Nation buys Fairmont Scottsdale Princess for $241.4m to expand non-casino hospitality. San Manuel Investment Authority purchased Fairmont Scottsdale Princess hotel for $241.4 million to increase non-casino hospitality investments in Arizona. Originally reported by The Real Deal.
San Manuel Nation buys Fairmont Scottsdale Princess
The San Manuel Investment Authority purchased the Fairmont Scottsdale Princess resort for $241.4 million including 750 keys and amenities.
First Arizona acquisition for tribe
This marks the tribe's first property in Arizona, adding to holdings in california, virginia and washington d.c.
Phoenix hospitality market growth
Phoenix hotels generated $7.2 billion in economic activity last year through tourism events and conventions.
The key point
San Manuel Investment Authority purchased Fairmont Scottsdale Princess hotel for $241.4 million to increase non-casino hospitality investments in Arizona.
