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Sheraton Phoenix Downtown Hotel bleeding millions for City of Phoenix owner

Randy Petersen held the 2008 Freddie Awards at the Wyndham Hotel Phoenix. I drove to Phoenix from Monterey, California and stayed in a suite at the Sheraton Phoenix Downtown, across the street from the Wyndham Phoenix.

The Sheraton hotel opened in 2008 as the largest hotel in Arizona with 1,000 rooms. The hotel is owned by the City of Phoenix, who launched the hotel as their primary downtown hotel for the taxpayer funded Phoenix Convention Center in a bid to lure more conventions and revitalize the downtown business area.

Since 2008, the city-owned Sheraton Phoenix Downtown Hotel has lost $28.2 million. The concern now is city money is being used to prop up the Sheraton Phoenix Downtown from a fund to build a new arena for the Phoenix Suns basketball team, a franchise Phoenix may lose in the next decade if a new basketball arena is not constructed before the team’s lease runs out in 2022.

Sheraton Phoenix Downtown is SPG category 4 at 10,000 points per reward night.

Source:

http://www.azcentral.com/story/news/local/phoenix/2014/11/27/sheraton-phoenix-downtown-lost-money/19564573/

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2 Comments

  • TopGunner April 13, 2015

    Looks like Phoenix got the same consultants the City of Baltimore did to prepare their crappy report used to justify City funding be used to build the Hilton at Camden Yards. As if blocking the view of the City from Camden Yards wasn’t enough, the ugly thing lost 5.6mio in what was a strong year for hotels in the country and City.

    They built it on the premise of insufficient rooms for large conventions and higher than average room rates. Even an Orioles playoff run couldn’t help it break-even. Probably will be sold at a giveaway rate with tax breaks galore. Why do governments get into this ownership game that they have no internal capacity to manage or operate?

  • Ric Garrido April 14, 2015

    Have to confess this is a faulty memory article. I stayed at Hyatt Regency Phoenix, which is across street from Wyndham Phoenix where Freddie Awards took place. I was in a suite.

    Sheraton Phoenix Downtown had not yet opened as I recall. I took photos of the outside building.

    Income tax preparation playing with my mind when I wrote this yesterday.
    Also, explains why I could not find a Loyalty Traveler article about Sheraton Downtown Phoenix.

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