Five Star Development purchased the land from an affiliate
of Marriott International for nearly $100 million. Several national and international
companies were also in the running to purchase the land. Located on the west
The Ritz-Carlton Community will include a 225-room
Ritz-Carlton resort hotel, a residential development including villas, luxury
homes and one-acre estate lots, as well as a mixed-use component to be planned
All residents of The Ritz-Carlton Community will have membership in The Ritz-Carlton Residences Program, including full access to resort services and amenities, including concierge, room service, spa, fitness center, housekeeping and maintenance.
Five Star Development will own and develop the project. The Ritz-Carlton Hotel Company, L.L.C. will operate the hotel and community under long-term management agreements.
A commission policy has not been announced, and the resort has not finalized which units among the villas, luxury homes and mixed-used property will be commissionable for agents, nor whether they will follow a rental pool model.
For more information, call 866-540-7827 or visit www.fivestardevelopment.com.
New Builds, Renovations
Other resorts, including Royal Palms Resort & Spa and Camelback Inn, A JW Marriott Resort & Spa, are undergoing multi-million-dollar renovations and upgrades.
The Phoenician completed a $5.5 million enhancement of the 60 guest rooms, private lobby, pool, cabanas and meeting space in The Canyon Suites building.
In addition, two hotels—W Scottsdale Hotel and Residences and InterContinental Montelucia Resort & Spa—are scheduled to open in 2007 and 2008 respectively, and will add more than 500 hotel rooms to Scottsdale's current collection of more than 12,500 rooms.
Also, Starwood has announced that