from Hotel Online (September 2015)
The management and ownership acquisition is the third local partnership with PacVentures
TEMPE, Ariz. – Sept. 8, 2015 – In partnership with PacVentures, San Diego-based RAR Hospitality has acquired The InterContinental Hotels Group (IHG)-affiliated Holiday Inn Express & Suites Tempe, marking their third joint venture into Arizona’s burgeoning hospitality market. Located adjacent to Arizona Mills Mall, which recently won the bid for a new Lego Discovery Center, and surrounded by multiple points of interest, the Holiday Inn Express & Suites Tempe (HIE) has flourished over recent years.
“RAR is thrilled to have another Arizona hotel in its portfolio,” expressed Corporate Vice President Marc Potash. “This market, particularly in the Greater Phoenix area, is primed for explosive growth over coming years, and we look forward to contributing to local success and further enhancing the level of service available at this location.”
RAR has assumed management of the hotel under the leadership of CEO and Founder Robert Rauch, who has significant experience in the Phoenix market. The property will undergo renovations over the next few years to bring the hotel in line with Holiday Inn Express’ Formula Blue concept.
As part of RAR’s assumption of management, seasoned hospitality professionals Jason Cozakos and Michael DiNucci have been appointed General Manager and Director of Sales, respectively. As General Manager, Cozakos will apply more than two decades of experience to the oversight of day-to-day operations. DiNucci returns to Greater Phoenix after sales roles of increasing levels of responsibility at a number of IHG properties throughout the Southwestern U.S.
“Jason and Michael have the right experience and the enthusiasm needed to take this hotel to the next level,” said Rauch. “Under their leadership, we are confident the Holiday Inn Express & Suites Tempe will continue to grow its leading presence in the area.”
The hotel’s proximity to companies including Wells Fargo Regional Corporate, Motorola, Honeywell, Chase and US Airways position it to become a preferred destination for corporate meetings, while a quick drive to both the Phoenix Sky Harbor International Airport and Arizona State University make it an ideal destination for leisure travelers.
About RAR Hospitality
RAR Hospitality is a full-spectrum hotel management and consulting firm based in San Diego, Calif. With more than two decades of experience delivering expert services and oversight to hoteliers, developers and hospitality finance professionals, RAR is one of the industry’s most trusted and respected names. Founded by Bob Rauch, the “Hotel Guru,” the firm owns and manages several Hilton properties and partners with upscale boutique hotels including The Keating Hotel, El Cordova Hotel and The Lafayette Hotel, Swim Club & Bungalows. For more information, visit RARHospitality.com.
PacVentures, Inc. is a commercial real estate investment firm based in San Diego, Calif. The company specializes in the acquisition and development of industrial, retail, and office properties located in the Southwestern United States. Privately owned, PacVentures focuses on value enhancing opportunities with significant principal involvement. Our extensive knowledge and experience allows us to quickly identify and decisively act upon acquisition, leasing development, and disposition opportunities. For more information, visit PacVentures.com.
About the Holiday Inn Express® brand
Holiday Inn Express® hotels are modern hotels for value-oriented travelers. Fresh, clean and uncomplicated, Holiday Inn Express hotels offer competitive rates for both business and leisure travelers. Guests Stay Smart® at Holiday Inn Express hotels where they enjoy a free hot Express Start™ breakfast bar with new healthier offerings, free high-speed Internet access and free local phone calls (U.S. and Canada only). There are currently more than 2,375 Holiday Inn Express hotel locations around the globe. For more information about Holiday Inn Express hotels or to book reservations, visit www.ihg.com/hiexpress.
Contact: Erica Schlesinger or Shae Geary -(W)right On Communications
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