CaliberCos completes sale of Holiday Inn Ocotillo for $13M

Caliber announced the sale of the Holiday Inn Ocotillo in the Phoenix-Chandler submarket for $13.0 million. The asset was owned by Caliber Hospitality Trust; Caliber’s private Umbrella Partnership C-Corporation vehicle focused on transformational and value enhancing opportunities in the hospitality space. “This transaction reflects the discipline of our acquisition and repositioning strategy,” said Chris Loeffler, Chief Executive Officer of Caliber. “We acquired the property prior to COVID, navigated through one of the most disruptive periods in the history of the hospitality industry, and exited the investment at a time when we are seeing better uses of capital. We now turn our attention back to growth as we enter a market full of new opportunities to create value for CHT.”