Scottsdale residents and guests have several new hotels to look forward to in the coming years, according to an article in the Arizona Central, with Old Town Scottsdale receiving six of the nine proposed developments. It’s been over ten years since the last Old Town Scottsdale hotel was built, which was the W Hotel, located on Camelback Road just east of Scottsdale Road.
Randy Grant, director of planning and development services in Scottsdale, says, “There’s a confidence in the market,” which would explain the sudden increase in proposals for new hotels.
There are a few other reasons why an increase in hotels around the Scottsdale area can be a huge benefit to the city. University of Phoenix Stadium is scheduled to host its third Super Bowl in 2023; with the Waste Management Phoenix Open held the same week, there is always a high demand for lodging in the Scottsdale area. Plus, with several of the Cactus League Spring Training Facilities in the East Valley, and the close proximity to the Loop 101 providing easy access from Scottsdale to the sports stadiums in Glendale, building hotels is not only great for our tourism economy, it is a smart investment as our city continues to grow.
Aside from Old Town Scottsdale, one hotel will be built in North Scottsdale, while the other two developments are located in South Scottsdale. In total, nine hotels are expected to provide as many as 1,300 additional rooms. The largest of these hotels is expected to be The Edition at Waterview, which will be adjected to the aforementioned W Scottsdale, and will feature 246 rooms, while the smaller of the proposed hotels will offer 125 rooms.
Since there are laws in place that don’t allow buildings in Old Town Scottsdale to be higher than 150 feet, most will be less than 100 feet. The only exception is the proposed Museum Square hotel, which is expected to be close to the maximum height.
What does this mean for Scottsdale residents?
Although only one of these proposed developments is underway, it could mean an increase in construction around the Old Town area as these hotels begin to break ground and build. With less than five years before the next Super Bowl/Phoenix Open week, there is high anticipation that the majority of these nine hotels will be completed with enough time to accommodate the thousands upon thousands of guests that make their way to our great city during this exciting time.
Vacation Rentals Market is also Booming in Scottsdale
Scottsdale condos are being purchased very frequently for the purpose of short term / vacation rentals. This is a quickly growing industry as tourists continue to pour in for Spring Traning. As more people try out staying in vacation rentals rather than hotels, this is becoming an extremely large industry in Scottsdale.