Longbow — Home2 Suites by Hilton
Total Development Cost
$21M
Size
66,000 SF
Keys / Units
111 Keys
Procurement
Qualifications
Mesa, AZ/Hospitality/Developer & GP
CEI was developer and general partner with Somera Capital Management as limited partner. The project was delivered in 14 months during the height of the pandemic. The 10% hard cost contingency of $1.5M was never utilized. Return on cost in year one of operations was 9.72%. The property is one of the top-performing Home2 flags in Arizona.
Key Outcomes
—14-month delivery during COVID
—Zero contingency spend
—9.72% return on cost (Year 1)
—Top-performing Hilton flag in Arizona
Next Project
Sheraton Wardman Park Hotel