Tempe lands Residence Inn, to open in 2014

A new hotel is slated for development in dowtown Tempe with an opening expected late next year or in early 2014. Construction is expected to start soon on a 173-room hotel Residence Inn by Marriott hotel on Forest Avenue. The project will be located on the east side of Mill Avenue, adjacent to the Tempe City Hall parking garage at the southeast corner of Fifth Street and Forest. The hotel is being developed by Miami-based Finvarb Group and managed by Marriott International. “The Tempe market is poised for strong growth and we are confident that this is the best location in the market,” said Ronny Finvarb, principal of the Finvarb Group. “We believe we will be able to establish a market-leadership position given the outstanding quality of our location, brand and management team.” The property will feature guest suites containing fully-equipped kitchens along and an outdoor rooftop pool and fire pit with panoramic views of the Valley. The hotel will have about 3,500 square feet of meeting space and 5,700 square feet of ground-level retail space.

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