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Poco Diablo Resort in Sedona sells

Buyer plans extensive renovation and transformation to luxury destination property

Phoenix, December 2, 2020 – The Poco Diablo Resort in Sedona was purchased by Bentley Legacy Holdings, LLC, for an undisclosed price. The Plano, Texas-based owner plans to renovate the property to improve the guest experience and has engaged Aimbridge Hospitality as the manager.

“Our team was able to show investors the upside potential with operational efficiencies and property renovations,” says Jon Grantham, vice president with Colliers International in Arizona. “This allowed us to maximize the price, even during the COVID-19 pandemic and the current credit crunch on hospitality debt.”

Sedona, as a hospitality market, poses a very high barrier for entry. The buyer plans to rebrand Poco Diablo and provide a product that will compete against the other upper scale hotels in the area.

Grantham, James Meng, Mike Montoya, Ryan Wall and Phil Breidenbach represented the Fort McDowell-Yavapai Nation in the sale of the resort property. Bentley Legacy was self-represented.

Poco Diablo Resort is located at 1752 AZ Highway 179 in Sedona. Constructed in 1977 and remodeled in 1995, the property features 137 guest rooms on 18 acres, as well as a nine-hole golf course.

Aimbridge Hospitality is a global leader in third-party hotel management services.  The company is the largest operator of Marriott, Hilton and Hyatt branded hotels in the world.  The Aimbridge management portfolio include more than 1,400 branded and independent properties in 49 states, the Caribbean and 20 countries.

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.

Colliers International in Arizona has served clients locally and globally for more than 40 years.

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James Meng

Senior Vice President

Phoenix

As a senior vice president with Colliers, James Meng specializes in the exclusive representation of buyers and sellers of hospitality investment properties throughout the Western United States. in partnership with Jon Grantham, senior vice president; Mike Montoya, senior associate; and Ryan Wall, senior associate.

The team provides extensive advisory services and representation to clients in the disposition, management and acquisition of hospitality-related assets. They also advise companies and owners pursuing the monetization of real estate holdings through hospitality asset financing.

With comprehensive experience in hotel operations and a successful track record of investment sales, James understands the unique challenges and opportunities of hotel real estate/ He is adept at guiding owners and investors in developing short- and long-term acquisition and disposition strategies and in preparing for financing or portfolio restructuring.

Known for an in-depth understanding of the hospitality market and innate knowledge of hotel operations, the team leverages its operational and ownership experience to create significant value and upside for clients. Colliers provides one of the most prolific international platforms within the industry for foreign capital investment sales, enabling the team to maximize exposure for clients and provide a proven conduit to foreign capital.

James works closely with Colliers International’s Hotels Group, which provides significant local, regional, national and international market knowledge and expertise needed to produce world-class marketing campaigns.

With more than 30 years of experience in the real estate industry, James brings a thorough knowledge of trends and conditions that impact the hotel and hospitality investment market. Prior to joining Colliers, he was a hotel industry specialist and member of the national Hospitality Group with Marcus & Millichap. Previously, James was a managing partner at M&M Associates, LLC, specializing in hotel real estate investment and management services.

His extensive operational background includes general manager positions at Best Western, Clarion Hotel by Choice Hotels, Comfort Inn by Choice Hotels, Ramada Hotels by Wyndham, Red Lions Hotel by Hilton, Holiday Inn Suites by IHG, Fairfield Inn & Suites by Marriott, and select high-end boutique hotels in the Scottsdale and Phoenix area. As general manager, James oversaw and was responsible for all areas of the hotel operations.

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Jon Grantham

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As a senior vice president with Colliers, Jon Grantham specializes in the exclusive representation of buyers and sellers of hospitality investment properties, in partnership with James Meng, senior vice president; Mike Montoya, senior associate; and Ryan Wall, senior associate. Jon focuses on private capital transactions for branded and boutique assets, primarily in the Western United States.

The team provides extensive advisory services and representation to clients in the disposition, management and acquisition of hospitality-related assets. They also advise companies and owners pursuing the monetization of real estate holdings through hospitality asset financing.

Jon's inherent analytic mentality and ability to react to and learn from a rapidly changing marketplace allows him to develop strategies that meet clients’ short- and long-term real estate investment goals. He clearly communicates his value proposition and presents solutions to clients that align with their business plans.

Known for an in-depth understanding of the hospitality market and innate knowledge of hotel operations, the team leverages its operational and ownership experience to create significant value and upside for clients. Taking a fresh, exciting, impactful and targeted approach, their marketing is designed to generate the greatest exposure and interest in the marketplace.

Colliers provides one of the most prolific international platforms within the industry for foreign capital investment sales, enabling the team to maximize exposure for clients and provide a proven conduit to foreign capital. Jon works closely with Colliers International’s Hotels Group, which provides significant local, regional, national and international market knowledge and expertise needed to produce world-class marketing campaigns.

Prior to joining Colliers, Jon was a hospitality and multifamily investment specialist and member of the national Hospitality Group with Marcus & Millichap. His career started in market research for Pierce-Eislen, where he created indices used by public and private national REITs, private capital investors and industry leaders to forecast real estate cycles in 50 major metropolitan statistical areas (MSAs).

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Mike Montoya

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As a senior associate with Colliers, Mike Montoya specializes in the exclusive representation of buyers and sellers of hospitality investment properties, with a focus on branded and boutique assets throughout the Western United States. He partners with James Meng, senior vice president; Jon Grantham, senior vice president; and Ryan Wall, senior associate.

The team provides extensive advisory services and representation to clients in the disposition, management and acquisition of hospitality-related assets. They also advise companies and owners pursuing the monetization of real estate holdings through hospitality asset financing.

Dedicated to serving his clients’ interests, Mike develops effective investment strategies that align with their business objectives.He analyzes how property acquisition, management and disposition can affect the success of his clients’ portfolios. As an instinctive problem-solver with an analytical approach, Mike carefully guide clients through the negotiation and transaction process to maximize value while minimizing risk. He is committed to delivering results that exceed clients’ expectations.

Known for an in-depth understanding of the hospitality market and innate knowledge of hotel operations, the team leverages its operational and ownership experience to create significant value and upside for clients. Colliers provides one of the most prolific international platforms within the industry for foreign capital investment sales, enabling the team to maximize exposure for clients and provide a proven conduit to foreign capital.

 Mike works closely with Colliers International’s Hotels Group, which provides significant local, regional, national and international market knowledge and expertise needed to produce world-class marketing campaigns.

Mike joined Colliers in 2017, as an investment associate, specializing in the acquisition and disposition of hotels, land, office buildings and industrial properties. His background includes seven years of experience in the global logistics industry, specializing in account management and operations.

As a senior specialist with APL Logistics in Scottsdale, Mike managed high-profile retail accounts, including Under Armour®, American Eagle and Talbots. At APL Logistics, he implemented direct-ship programs to improve speed-to-market, led client business reviews and resolved operational challenges. He streamlined processes and procedures for APL’s global network by implementing top supply chain industry practices into a network of 110 offices within 60 countries.

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Ryan Wall

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As a senior associate with Colliers, Ryan Wall specializes in hospitality investment properties. Leveraging his diverse real estate and hospitality experience, along with Colliers’ industry-leading resources, he helps stakeholders meet their investment goals for the sale, purchase or financing of hospitality assets.

Ryan is a skilled negotiator and highly effective seller of hospitality assets and franchises, and a widely respected former appraiser. As an astute and resourceful valuation expert, he is known for accurately appraising the most unusual and challenging assets.

Ryan identifies, evaluates and closes profitable investments that increase revenue and market share for his clients. Leveraging his relationship management and influencing skills, he overcomes and resolves any issues or adversity to achieve successful transactions that meet his clients’ goals.

He partners with James Meng, senior vice president; Jon Grantham, senior vice president; and Mike Montoya, senior associate. Known for an in-depth understanding of the hospitality market and knowledge of hotel operations, the team’s operational and ownership expertise creates significant value and upside for clients.

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Ryan works closely with Colliers International’s Hotels Group, which provides significant local, regional, national and international market knowledge and expertise needed to produce world-class marketing campaigns. Colliers provides one of the most prolific international platforms within the industry for foreign capital investment sales, enabling the team to maximize exposure for clients and provide a proven conduit to foreign capital.

Prior to joining Colliers, Ryan was vice president of Franchise Sales & Development, Southwest Region, for Radisson Hotel Group (RHG). Ryan drove RHG’s penetration of high-barrier markets, such as the Las Vegas Strip and Moab, Utah, by initiating new marketing strategies and stakeholder communications. He achieved RevPAR 25% higher than brand average on deals signed.

At RHG, Ryan rescued a massive upscale Salt Lake City hotel project, winning the contract for a 234-room, 18-story mixed-use facility. He also won the competition for a Moab, Utah, franchise agreement, persuading the client that RHG’s strong brand reputation would attract the European and Chinese traveler segment.

Previously Ryan served as director of Consulting & Valuation for HVS Consulting, a leading appraisal and consulting firm. He expanded the company’s presence in the Southwest by establishing the Phoenix office, producing $300,000 in project sales revenue over three years. He overcame the firm’s lack of name recognition by building an extensive relationship network, forging strategic partnerships, and authoring articles and research papers for industry and local publications. Ryan handled large-scale and complex, outside-the-box projects for Morgan Stanley, Wells Fargo, Deutsche Bank, Western Alliance, CW Capital and LNR Partners, among others.

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Phil Breidenbach

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As a senior executive vice president with Colliers, Phil Breidenbach specializes in commercial office properties, representing both landlords and tenants. He focuses on life-of-the-asset landlord agency, tenant advocacy, corporate solutions, acquisitions and dispositions. Phil has specialized in commercial real estate since joining Colliers in 1984.

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Phil partners with Kathy Foster, MCR.w, senior vice president; and Kyle York, associate. Their team structure allows representation of both landlords and tenants, with a diverse base of knowledge and expertise that leads to successful and tailored real estate solutions. They build on the strengths of the team's members, with a synergy not often found in today’s commercial real estate environment. They pride themselves on developing relationships that continue far beyond a single successful transaction.

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