Starwood completes sale of Aloft Tucson University

Starwood Hotels & Resorts Worldwide has completed the sale of Aloft Tucson University in Arizona to Lightstone Value Plus Real Estate Investment Trust II for $19 million. The hotel will remain an Aloft under a long-term license agreement. It will be managed by Island Hospitality Management.

“The sale of Aloft Tucson University highlights Starwood’s commitment to an asset-light strategy as we continue to seek the right owners and partners for our remaining owned real estate assets to create value for our shareholders,” said Simon Turner, president of global development for Starwood. “With favorable capital market conditions and improving hotel industry fundamentals, we’re seeing continued strong investor interest in our remaining assets from investors around the globe.”

“This is a premium-branded hotel in a strategic location poised for growth,” said David Lichtenstein, chairman and CEO of The Lightstone Group. “Adjacent to the University of Arizona campus, with a student population of approximately 40,000, and sports complexes, the hotel is also in close proximity to the University of Arizona Medical Center, downtown Tucson, and numerous corporate offices, and has good accessibility to the Tucson International Airport and Interstate 10. We believe this acquisition is representative of Lightstone’s ability to identify attractive investment opportunities.”

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Originally built in 1972, the hotel underwent a complete redevelopment prior to its re-opening in April 2013 as Aloft Tucson University.

Read more on

Suggested Articles

The company intends to raise $100 million from investors to source mezzanine loan and preferred equity transactions in the hospitality sector.

With the transfer of 103 management and branding contracts, Sonesta's portfolio has more than doubled.

Airbnb has confidentially filed with the Securities & Exchange Commission to go public, with the number of shares and price range yet to be revealed.