Sheraton Phoenix Downtown is a $350 million (USD), high rise convention hotel, located at the northeast corner of Van Buren Street and Third Street in Downtown Phoenix, Arizona, adjacent to the Arizona Center office/retail complex and the Phoenix Convention Center, which has its North building opening up in early 2008. At 31 floors it has surpassed the Hyatt Regency Phoenix, at 24 floors, as the tallest hotel tower in Arizona.
In July, 2003, the Phoenix City Council approved the USD $35 million convention center hotel, to be owned by the city, and developed and operated by Sheraton Hotels as a Starwood facility. On November 3, 2004, the city of Phoenix announced Arquitectonica and RSP Architects had been selected to build the project. Groundbreaking was in late March 2006. The tower was topped out in October 2007. The hotel welcomed it first guests on September 30, 2008.
The hotel has 1,000 rooms, a 6,500-square-foot (600 m2) fitness center, a 2,000-square-foot (190 m2) outdoor pool and sundeck, 80,000 square feet (7,400 m2) of flexible, state-of-the-art meeting space including a 29,000-square-foot (2,700 m2) ballroom and a 15,000-square-foot (1,400 m2) junior ballroom. In addition, there are 16 meeting rooms, two boardrooms, and a terrace for outdoor events. The exterior color palette of browns, oranges and yellows were chosen to represent the desert sky at sunset. The curved roofline mimics the slope of nearby Camelback Mountain.
As of November 2014 according to azcentral.com this hotel has lost $28 million since opening in 2008.
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