PEG Companies Opens New Staybridge Suites Hotel in Phoenix
Located in one of the fastest-growing metro areas in the nation, this upscale extended stay hotel adds 106 luxury suites to the market.
PHOENIX, September 10, 2019 (Newswire.com) - Facilitating strong collaboration between public and private sectors, PEG Companies (PEG), a leading commercial real estate development and investment firm, officially opened the doors of its newest hotel Staybridge Suites Phoenix-Biltmore last week. Wednesday, project leaders, property managers, investors, city representatives and members of the community gathered for a formal grand opening celebration and ribbon cutting.
The all-suite, extended-stay hotel, located at 2940 N. Greenfield Road, boasts 106 luxury guest suites, each featuring high-end kitchens and spacious living quarters. Guests enjoy signature amenities, including a fully equipped, on-site business center, a state-of-the-art fitness facility and pool, complimentary same-day dry cleaning, and a daily continental hot breakfast buffet.
As early as the project’s inception in 2016, the purpose of developing this previously under-utilized property was to turn it into something that would fill a real need in the rapidly flourishing Biltmore community.
“This new Staybridge Suites is giving new life to a once dreary piece of land in an area that was ready for revitalization,” said Cameron Gunter, Chief Executive Officer at PEG. “As demand growth in the region continues to outpace supply, we believe that Phoenix will continue to rank among the fastest-growing metro areas in the nation, and we love playing a small part in that growth.”
According to data from Maricopa County, in 2018, the Phoenix hotel market achieved the strongest demand growth since 2010.
"We are working closely with the neighboring Phoenix Children's Hospital and other local health care facilities to provide both short-term and long-term lodging for patients and their families while in the area for care. We look forward to being an active community partner,” added Carter Frank, Chief Operating Officer at In-Group Hospitality, the group that manages the property.
With every project PEG opens, the group finds a philanthropic purpose in the community to support. As part of Wednesday’s grand opening celebration, PEG presented Phoenix Children’s Hospital with a $5,000 donation to be used to help cover the cost of accommodations for visiting families of children receiving care at the hospital.
“Staying in close proximity to Phoenix Children's makes a critical difference for our patients’ families. Many children spend weeks, even months on end, at the Hospital …” said Jenifer Espinoza, Supervisor of Social Work at Phoenix Children’s. “Now, families in need have more options for affordable lodging nearby. We appreciate PEG’s support in helping keep our promise to deliver family-centered care.”
Wednesday’s grand opening celebration concluded with a ceremonial ribbon cutting led by the Greater Phoenix Chamber of Commerce.
“This hotel represents the continued economic growth happening all around the valley. We are thrilled to have another location here in Arizona to serve our business community, community at large, and the many tourists and visitors coming throughout the year. Congratulations on another great hotel,” said Jeffrey Durbin, Senior Business Development Executive at the Greater Phoenix Chamber.
PEG wishes to thank its valued partners that helped bring Staybridge Suites Phoenix-Biltmore to fruition including Blue Diamond Capital, a family office investment management company that was instrumental in the deal, Porter Brothers Construction, PK Architects, and the City of Phoenix.
Email Staybridge Suites Phoenix-Biltmore to book a tour or check rates.
About PEG Companies
Founded in 2003 by Cameron Gunter, PEG Companies is a leading commercial real estate development and investment firm based in Provo, Utah. PEG’s mission remains constant: create opportunities through grit, ingenuity and expertise – providing the premier real estate experience. The PEG team offers considerable experience in project design, engineering, financing, city entitlements, tax incentives, construction management, marketing, and property management and offers a strategic combination of acquisition, rehabilitation and development capabilities. PEG owns and manages more than 4,939 hospitality keys across the U.S. and Canada, with over 2,836 multifamily housing units and additional office, retail, and industrial space across the West. For more information about PEG, visit www.pegcompanies.com.
Ali Monsen | firstname.lastname@example.org | (801) 783-7334
Source: PEG Companies
Categories: Real Estate Investments