Hotel Palomar Phoenix - Hotels

2 E Jefferson St, Phoenix, AZ, 85004-2573, US

Description

The Kimpton Hotel Palomar Phoenix offers a unique opportunity to invest in a recently renovated, non-union, core urban asset located in the heart of downtown Phoenix. Situated within the $500 million CityScape mixed-use development—downtown’s premier hub for shopping, dining, and entertainment—the Hotel benefits from over 1.2 million square feet of surrounding Class A office, retail, and multifamily space. Its prime location places it within walking distance of the Phoenix Convention Center, the Phoenix Suns Footprint Center, the Arizona Diamondbacks Chase Field, and a diverse array of corporate and leisure demand drivers.

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Attributes

Number of units

242

Building area gross

19,636 m²

Year built

2012

Land area gross

0.25 ha

Year renovated

2025

Media

Investment Highlights

IRREPLACEABLE MIX OF LOCATION AND QUALITY

The hotel offers a rare opportunity to acquire an institutional-quality, core urban asset located in one of the nation’s fastest-growing metropolitan areas.

UNENCUMBERED BY BRAND AND MANAGEMENT

The Hotel provides new ownership with complete flexibility to pursue strategic brand and management repositioning, implement customized revenue management strategies, and optimize operational efficiencies without legacy constraints.

RECENT RENOVATION & INVESTMENT IMPACT

In 2025, the Hotel completed a comprehensive renovation encompassing all 242 guestrooms, including the Hotel’s 27 suites. Designed by Beleco Design, the refresh introduced a desert-inspired, residential-style aesthetic with upgraded furnishings, curated artwork, enhanced minibars, and modernized bathrooms. Common areas, including guest corridors and elevator banks were also updated to reflect the elevated design and enhance the overall guest experience.

This renovation follows the over $3.6 million capital investment in 2022 and 2023 dedicated to reinventing the rooftop pool deck and F&B space, creating Phoenix’s premier rooftop experience. The reimagined Eden Rooftop now offers a resort-style pool environment and a signature dining concept with panoramic city views, positioning the Hotel as a refined urban retreat and a vibrant social hub.

STRONG UPSIDE POTENTIAL IN OPERATING PERFORMANCE

The property maintains strong trailing cash flow and has demonstrated a significant ramp-up in revenue and profitability, underscoring its superior positioning and proximity to downtown Phoenix’s primary demand generators.

DISCOUNT TO REPLACEMENT COST

The Kimpton Hotel Palomar Phoenix presents an attractive acquisition opportunity at a substantial discount to replacement cost in the current construction environment.

EXCELLENT CONVENTION CENTER PACE

The Kimpton Hotel Palomar Phoenix benefits from its prime location next to the Phoenix Convention Center, a 900,000-square-foot venue renovated in 2008 and ranked among the nation’s top 20 facilities.