Phoenix, Arizona, November 22, 2025
The Sheraton Phoenix Downtown, the largest hotel in Arizona, has been sold to Brookfield Properties in a significant transaction facilitated by JLL’s Hotels & Hospitality group. The details of the financial deal remain undisclosed. The hotel features 1,003 rooms and extensive event space, recently renovated with a $45 million upgrade. This sale highlights the demand for prime hospitality assets in Phoenix, following another recent high-profile sale in the city.
Sheraton Phoenix Downtown Sold in Historic Deal
Phoenix, Arizona – The Sheraton Phoenix Downtown, Arizona’s largest hotel, has been sold to Brookfield Properties in a landmark transaction, marking one of the state’s most significant hospitality deals to date. The sale was facilitated by JLL’s Hotels & Hospitality group, which represented the seller, Blackstone Group Inc. The financial details of the deal were not disclosed.
Property Details
The 33-story Sheraton Phoenix Downtown boasts 1,003 rooms within its 806,481-square-foot structure. It offers 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 hotel also features 26 meeting rooms, with the largest accommodating up to 2,510 guests, and 20 breakout rooms.
Recent Renovations
Built in 2008, the hotel underwent a comprehensive $45 million renovation completed in 2020, enhancing its modern amenities and design.
Historical Context
Blackstone Group acquired the property from Marriott International in 2020 for $268 million. The hotel is situated adjacent to the Phoenix Convention Center, serving as a preferred headquarters hotel for the center and catering to visitors from nearby attractions such as Arizona State University’s Downtown Phoenix Campus and Chase Field.
Market Significance
This sale underscores the robust demand for prime hospitality assets in Phoenix. Earlier this year, the JW Marriott Phoenix Desert Ridge Resort, the city’s largest resort, was sold to Ryman Hospitality Properties for $865 million.
FAQ
Who purchased the Sheraton Phoenix Downtown?
The Sheraton Phoenix Downtown was purchased by Brookfield Properties.
What are the key features of the Sheraton Phoenix Downtown?
The hotel features 1,003 rooms, 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.
When was the hotel built and renovated?
The hotel was built in 2008 and underwent a comprehensive $45 million renovation completed in 2020.
Who sold the hotel to Brookfield Properties?
The hotel was sold by Blackstone Group Inc., which had acquired the property from Marriott International in 2020 for $268 million.
What is the significance of this sale in the Phoenix hospitality market?
This sale highlights the strong demand for prime hospitality assets in Phoenix, following the earlier sale of the JW Marriott Phoenix Desert Ridge Resort for $865 million.
Key Features of the Sheraton Phoenix Downtown
| Feature | Details |
|---|---|
| Number of Rooms | 1,003 |
| Total Square Footage | 806,481 sq ft |
| Meeting and Event Space | 112,000 sq ft |
| Largest Ballroom | 27,200 sq ft Phoenix Ballroom |
| Second Ballroom | 14,000 sq ft Valley of the Sun Ballroom |
| Number of Meeting Rooms | 26 |
| Largest Meeting Room Capacity | Up to 2,510 guests |
| Number of Breakout Rooms | 20 |
| Year Built | 2008 |
| Renovation Cost | $45 million |
| Renovation Completion Year | 2020 |
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Author: STAFF HERE PHOENIX WRITER
The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
