Phoenix’s hospitality landscape continues to grow as Hospitality Capital Partners (HCP) announced the acquisition of a five-hotel Sonesta portfolio totaling more than 665 rooms across Arizona. The $72 million transaction, completed in partnership with National Property Advisors, marks another major milestone for the Phoenix-based investment firm and further solidifies its presence across the state.
The newly acquired properties include Sonesta Select Phoenix Chandler, Sonesta Select Tempe Downtown, Sonesta ES Suites Tempe, Sonesta ES Suites Flagstaff, and Sonesta ES Suites Scottsdale Paradise Valley.
Each hotel is positioned in high-demand locations, offering strong performance potential and long-term value. With this acquisition, HCP’s total portfolio now surpasses 1,500 rooms, reinforcing the firm’s growing influence in Arizona’s hospitality sector.
“These are markets with strong fundamentals and opportunities for new development,” said Keith Mishkin, managing partner of Hospitality Capital Partners. “We focus on locations that are in high demand and have high barriers to entry for competition. In this case, several of these hotels are in irreplaceable locations. This acquisition strengthens long-term by adding assets that will remain desirable for decades.”
The newly acquired portfolio reflects HCP’s commitment to investing in properties that balance immediate performance with long-term upside. According to partner Parimal “Primo” Parmar, the transaction aligns seamlessly with the company’s broader investment philosophy.
“The portfolio offers immediate performance potential and meaningful long-term upside for our investors,” Parmar said. “We’re focused on securing well-positioned hotels that can generate revenue from day one while continuing to appreciate over time. These trophy properties check every box, from location to brand strength to the stability of the surrounding markets.”
The acquisition also builds on HCP’s presence across Arizona’s dynamic hospitality corridors. In addition to its latest purchases, the firm and its principals have owned nearly 50 hotels throughout the western U.S.
Current projects include the transformation of the former Saguaro Scottsdale into Hotel Solaya, a 194-room Hyatt JdV property set to open this winter in Old Town Scottsdale, as well as The 233, a new Hyatt Unscripted hotel debuting in downtown Mesa. Through its affiliated company, Parks Legacy, the group has also owned and operated more than 25 golf courses nationwide.
With more than 70 assets currently under management, Hospitality Capital Partners continues to expand its footprint while maintaining a long-term, value-driven approach. As Arizona’s hospitality and tourism sectors continue to thrive, the firm’s latest investment underscores both confidence in the region and a continued commitment to thoughtful, strategic growth. Learn more at hcphotels.com.
