PHOENIX – Pivotal Group, a Phoenix-based developer, is investing $100 million to acquire and renovate the iconic Hilton Phoenix Resort at the Peak. The resort, originally developed in 1977 by Gosnell Development Corp., was purchased by Pivotal through its entity, Peak Hotel LLC, for $39.5 million in a sale that closed on October 1, 2024. The property was previously owned by New York-based Fortress Investment Group, which acquired it in 2019 for $51.35 million.
Known for its lazy river and prime location at 7677 N. 16th St., the resort has a rich history. It was initially named The Pointe at Squaw Peak and was part of a trio of Pointe resorts built by Gosnell, including The Pointe at Tapatio Cliffs and The Pointe at South Mountain in Phoenix.
Over the years, the property changed ownership multiple times. Hilton Worldwide Holdings Inc. (NYSE: HLT) managed and rebranded the resort in 1991, before purchasing it for $94 million in 1999. Later, Virginia-based Park Hotels & Resorts Inc. (NYSE: PK) took ownership in 2000 before selling it to Fortress.
In 2020, the resort’s name was changed to Hilton Phoenix Resort at the Peak due to public pressure surrounding the use of “Squaw Peak,” which was deemed offensive. This followed the City of Phoenix’s decision in 2003 to rename Squaw Peak mountain to Piestewa Peak in honor of Lori Piestewa, the first Native American woman to die in combat during the Iraq War.
Pivotal Group’s acquisition marks the beginning of a significant investment to restore and revitalize the historic property, continuing its legacy as a key destination in Phoenix.