RobertDouglas served as exclusive advisor on the sale of the Hyatt Place Page in Page, AZ. The property was acquired for $24.25 million ($238,000/key) through a preemptive offer submitted by an owner/operator based in Salt Lake City that controls a number of hotels in the region similar in profile to the Hyatt.
“The property stands out as one of the highest-quality Hyatt Place assets built to date, having been constructed to a resort standard that significantly exceeds brand requirements,” said Rob Stiles, managing director/principal, RobertDouglas.
Under the management of Crescent Hotels & Resorts, the 102-key hotel has premium amenities including an adventure concierge, outdoor patio with fireplace overlooking the rim of the Grand Canyon, a full-service restaurant (Prickly Pear Kitchen) and curated art installations that differentiate the Hotel from its competitive set.
The Hyatt Place Page is situated in within the Page/Lake Powell market, at the gateway to the Canyon Country. The Glen Canyon National Recreation Area draws more than 5 million annual visitors to destinations such as Lake Powell, Antelope Canyon, Horseshoe Bend and Grand Staircase–Escalante National Monument.
