TEMPE, AZ-A 173-room Residence Inn by Marriott is ready to open in downtown Tempe today following a a longer-than-expected development process.
The opening of 11-story tower marks the first new hotel development in Tempe since 2009, and comes after five-year delay caused primarily by the economic crisis, according to a report in the Phoenix Business Journal.
The owner is Miami-based Finvarb Group. The Journal reports that local real estate sources estimate that the firm spent at least $50 million on the project.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
