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Henderson Park Buys Arizona Biltmore Hotel for $705M

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Henderson Park Buys Arizona Biltmore Hotel for 5M


Henderson Park has cut a deal to buy the historic Arizona Biltmore hotel in Phoenix from Blackstone for $705 million.

The London-based private equity real estate manager will take ownership of the 705-room landmark at 2400 East Missouri Avenue, Bloomberg reported, citing unidentified sources. The deal works out to $1 million per room.

The New York-based investor bought the “Jewel of the Desert” from Singaporean sovereign wealth fund GIC in 2018 for $403 million, or $571,600 per room.

Blackstone then poured more than $150 million into renovating the birthplace of the tequila sunrise, which opened on Feb. 23, 1929.

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The hotel just south of the Phoenix Mountains Preserve is now part of the Waldorf Astoria Hotels and Resorts collection. 

The “textile block” hotel, designed by Albert Chase McArthur with influences from Frank Lloyd Wright, has hosted Hollywood stars from Clark Gable and Carole Lombard to Marilyn Monroe. Irving Berlin wrote “White Christmas” under sunny skies at its Catalina pool.

The hotel hosted future President and First Lady Ronald and Nancy Reagan on their honeymoon in 1952. More than a half century later, it put up President George W. Bush.

The 39-acre hotel was bought by William Wrigley Jr., of chewing gum fame, and stayed in the family for decades.

Over the past year, the Arizona Biltmore and other hotels have fared better than other commercial property investments such as offices, according to Bloomberg. While domestic leisure travel has cooled slightly from the post-pandemic boom, resort owners are benefiting from international demand. 

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That buttressed the stocks of U.S. lodging companies, which have outperformed the S&P 500 Index since the end of 2022.

Other investors have sought to cash in on luxury hotels. 

This month, Toronto-based Brookfield Asset Management sold a majority stake in the Ritz-Carlton Key Biscayne to Miami-based Gencom, which already owned a minority interest, for an undisclosed price.

Hyatt Hotels is negotiating a deal to sell the Park Hyatt Zurich to Trinity Investments, Bloomberg reported last month.

A year ago, Blackstone sold its 45-acre, century-old La Quinta Resort & Club near Palm Springs to Henderson Park for $255 million. It was Henderson’s first U.S. investment.

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Henderson Park was launched in 2016 by Mount Kellett executive Nick Weber, who managed to whip up $500 million in equity while working out of his local Starbucks.

Since then, the firm has been a significant investor in European hotels. It bought the Westin Paris-Vendôme in 2018 for $628 million, and sold it in February 2023 to Dubai Holding for $650 million Euros, or $704 million. In 2022, it bought a portfolio of 12 Hilton hotels in the United Kingdom and set up a new platform to manage the business. 

— Dana Bartholomew



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Arizona

Multiple freeways closed as snow moves into northern Arizona

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Multiple freeways closed as snow moves into northern Arizona


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A winter storm sweeping across the state was dumping snow and whipping up gusty winds in northern Arizona, forcing multiple highway closures and travel advisories throughout the region. 

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Snow moved into the high country early Jan. 8 and was expected to continue through the afternoon and evening. Flagstaff had picked up 2 to 4 inches, with snow reaching lower elevations, including Prescott and Sedona, according to the National Weather Service in Flagstaff. 

“In our area we expect it to come to an end here later this afternoon and early this evening, with only an inch or two more here in the Flagstaff area,” said Brian Klimowski, a meteorologist with the National Weather Service in Flagstaff. “It’s going to continue this evening and overnight to our east.” 

Snow levels dropped as a cold front moved into the region, falling from about 6,000 feet at sunrise to as low as 4,000 feet by late evening. Forecasters say heavier snow was likely this afternoon and evening as the system moves through.

“Roads are bad right now,” Klimowski said. “The highways will be very slick, and we expect conditions will remain in a deteriorated state here this afternoon to this evening, especially along and east of the I-17 corridor.” 

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Which highways are closed in northern Arizona?

Several major highways across the high country were closed on Jan. 8 due to winter weather and related crashes, according to the Arizona Department of Transportation. 

As of the afternoon, the following closures were in place:

  • Interstate 40 eastbound at US 93 (milepost 72)
  • Interstate 40 eastbound at State Route 89 in Ash Fork (milepost 146)
  • Northbound Interstate 17 at State Route 169 (milepost 278)
  • State Route 64 (both directions) between mileposts 244-264

ADOT said there is no estimated reopening time for any of these highways. 

Drivers can check the latest road closures and travel conditions through ADOT’s AZ511 system, with an online interactive map and mobile app. Information is available at AZ511.gov or by calling 511 from within Arizona. 

Snow, wind and cold persist 

Flagstaff could see snow totals around 2 to 5 inches, with more at the higher elevations. Snow will continue across eastern Arizona into the evening Jan. 8 and early on Jan. 9, including parts of Black Mesa, the Chinle Valley and the Chuska Mountains. 

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Gusty winds could reduce visibility, especially in areas with blowing snow. Winds will shift northerly overnight, summoning colder air as the system departs. 

“It’s going to dry out,” Klimowski said. “It’s going to be cold and blustery tomorrow and then a slow warming trend through much of next week.” 

Lows on Jan. 9 will be 10 to 15 degrees below normal, with wind chills near zero in the High Country. While snow will cease by Jan. 9, slick roads and hazardous conditions could remain, 

“Be careful if you’re traveling tonight,” Klimowski said. “It’s going to be slick out there.”

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Why does it snow so much in Flagstaff? Here’s what to know

Flagstaff may be in a state known for its scorching summers and years-long droughts, but it is one of the snowiest cities in the United States.

Hayleigh Evans writes about extreme weather and related topics for The Arizona Republic and azcentral.com. Email her with story tips at hayleigh.evans@arizonarepublic.com.

(This story has been updated to add a new video).



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Arizona, career nights from Burries, Krivas beat K-State

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Arizona, career nights from Burries, Krivas beat K-State


TUCSON, Ariz. (AP) — Brayden Burries scored 28 points, Motiejus Krivas added a career-high 25 and No. 1 Arizona remained unbeaten with a 101-76 win over Kansas State on Wednesday night.

Arizona (15-0, 2-0 Big 12) is off to its best start since winning the first 21 games of the 2013-14 season. Arizona won by at least 18 points for the 10th consecutive game, matching a mark Michigan had earlier this season that tied for the longest such run since 2003-04.

Burries had his fifth 20-point game and matched his career high by going 12 for 16 from the field while adding nine rebounds. It was his 10th straight game in double figures, including at least 20 points in five of those, after just one over his first five.

Krivas was 7 of 10, making 11 of 13 free throws, and had 12 rebounds.

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Koa Peat had 15 points and 10 rebounds and Tobe Awaka added nine and 11 as Arizona outrebounded Kansas State 55-32. Arizona shot 49.3% from the field but was just 3 of 16 from 3-point range.

Kansas State (9-6, 0-2) went 8 for 36 from deep and shot 33.8% overall. PJ Haggerty led the way with 19 points on 8-of-20 shooting, while Nate Johnson added 15 and Dorin Buca 12.

Down 15 at the half, Kansas State pulled within 58-49 with 16:09 left on a 3-pointer by Johnson. Arizona responded with a 6-0 run and kept the margin at least 12 the rest of the way. Back-to-back dunks by Burries and Peat and a corner 3-pointer by Jaden Bradley keyed a 13-0 run to put Arizona ahead 92-65 with 3:31 remaining.

It built a 10-point lead less than six minutes into the game and upped it to 20 with 2:52 left in the first half. Burries had 16 before halftime.

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Arizona HS football’s No. 1 2027 prospect has ASU, Miami high on list

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Arizona HS football’s No. 1 2027 prospect has ASU, Miami high on list


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  • Hildebrand is ranked as the No. 13 overall offensive tackle in the nation for the 2027 class by 247Sports.
  • Arizona State, Miami, Alabama, Texas A&M and USC are among his current favorites.
  • The 6-foot-6 left tackle has started every varsity game since his freshman year at Chandler Basha.

Chandler Basha left tackle Jake Hildebrand, the state’s No. 1 2027 college football prospect, said Arizona State and Miami are among the top potential schools on his recently revealed 10-best list.

Miami is playing in the Vrbo Fiesta Bowl as part of the College Football Playoff semifinal against Ole Miss at State Farm Stadium in Glendale on Jan. 8.

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Hildebrand, 6-foot-6, 293 pounds, has started every varsity game since his freshman year and helped lead the Bears to the Open Division state title this past season. He won’t be able to attend the Fiesta Bowl because he’s in San Antonio, getting ready to play in the Jan. 10 Navy All-American Bowl. The game airs at 11 a.m. MST on NBC.

Hildebrand also has CFP semifinalists Indiana and Oregon, along with Texas A&M, Alabama, USC, Ohio State and Texas among his top 10 colleges.

“A few schools that are my favorite from the top 10 are ASU, Alabama, Texas A&M, Miami and USC,” Hildebrand said in a direct message to The Arizona Republic. “They have definitely been the schools that have been contacting me the most and built the best relationship with.”

There is no timetable for when Hildebrand will commit. He could wait until he makes trips this spring, summer and fall. But he is among the most coveted left tackles in the country, who has 38 offers, according to 247Sports.

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The 247Sports Composite has Hildebrand ranked as the No. 13 overall offensive tackle in the country in the 2027 class. He is ranked No. 1 in the class of 2027 by The Republic.

Richard Obert has been covering high school sports since the 1980s for The Arizona Republic. Catch the best high school sports coverage in the state. Sign up for Azcentral Preps Now. And be sure to subscribe to our daily sports newsletters so you don’t miss a thing. To suggest human-interest story ideas and other news, reach Obert at richard.obert@arizonarepublic.com or 602-316-8827. Follow him on X, formerly Twitter:@azc_obert





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