Caliber Companies Confident in Phoenix’s Hospitality
- Jul 14, 2015
The 44th and McDowell Hotel Group, LLC, an affiliate of Caliber Cos., has recently acquired the 228-room Holiday Inn Hotel & Suites Phoenix Airport North in Phoenix, AZ. This is the firm’s third hospitality acquisition in the last three years, the company now owning about 30 percent of available hospitality rooms located within 1.5 miles of Phoenix Sky Harbor Airport.
The hotel will be managed by Heavlin Management Co. and will remain under the same brand. According to a press statement, Caliber plans to invest $3.7 million in capital improvements such as building upgrades; restaurant renovations; cost cutting measures and signage.
“The Holiday Inn & Suites purchase embodies Caliber’s strength in identifying properties with strategic advantages and inefficiencies we can exploit to the benefit of our clients and partners,” said in a statement Chris Loeffler, co-founder & CEO of Caliber Companies. “We’re focused on continued growth in the hospitality sector, and we look forward to expanding our portfolio with other opportunities that will increase stakeholder value and return on investment.”