Grand Hyatt Scottsdale Resort Rebranding and Renovation Completion
The former Hyatt Regency Scottsdale was successfully rebranded to Grand Hyatt Scottsdale Resort, with completed renovations of guest rooms, spa, meeting space, lobby, and new restaurants, enhancing the guest experience.
Increase in Same-Property RevPAR
Same-property RevPAR for the 31-hotel portfolio increased by 1.5%, with a notable 11.1% increase in the Phoenix-Scottsdale market.
Corporate Credit Facility Upsized and Extended
The corporate credit facility was increased by over 20%, with the revolving line of credit capacity raised to $500 million and the term loan increased to $325 million.
Strong Group Revenue Pace for 2025
Group revenue pace for 2025 is up nearly 20%, indicating strong future group bookings.