Scottsdale’s Entertainment District is getting a major upgrade with the opening of the 12-story Remi Hotel, a luxury lifestyle property designed to elevate the party scene while reshaping the neighborhood’s future. Here’s what real estate investors need to know:
- High-End Hospitality Hub:
- Developed by Shawn and Steven Yari of Stockdale Capital Partners/Riot Hospitality.
- Positioned as a luxury boutique hotel with 161 rooms, rooftop bars, and direct access to the Maya Day + Nightclub.
- Originally named the Maya Hotel; “Remi” is short for “reminisce.”
- No On-Site Parking:
- Valet will use nearby private lots and garages.
- Emphasis on rideshare, minimizing parking footprint in a high-demand district.
- Part of a Broader Vision:
- Complements the Yaris’ long-term strategy to create a hospitality and mixed-use district.
- Tied to the massive Scottsdale Collection redevelopment project.
- Includes revised plans for two 10-story apartment buildings at Scottsdale Center.
- Luxury Pricing Signals Confidence:
- Nightly rates range from $216 to over $5,800 for New Year’s Eve.
- Demand expected from bachelor/bachelorette groups and high-spending leisure travelers.
- Why It Matters for Investors:
- Reinforces Scottsdale’s national image as a luxury party destination.
- Indicates strong confidence in long-term hospitality demand.
- Could put upward pressure on rents and property values in the area.
- Highlights the city’s mixed feelings about density and development (especially with ongoing parking debates).