Strategic Hotels makes $140M buy in Ariz.

Strategic Hotels & Resorts has announced the acquisition of Arizona’s Four Seasons Resort Scottsdale at Troon North, in a $140 million deal that values each of the 210 rooms at $666,000. Walton Street Capital was the seller, and the purchase includes 13.8 acres zoned to accommodate up to 88 hotel rooms and potential for residential development. Read the Hotel Management online story here