New Hotel Adds 257 Rooms Near Mayo Clinic Phoenix
Hospitality operators in North Phoenix should expect added upscale and extended-stay competition when the property opens in 2028.
Updated on Nov. 3, 2026 in Hospitality
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Plaza Companies and Fayth Hospitality will break ground on Hotel Six Four, Mayo Blvd, a six-story, 257-room dual-brand Hilton hotel in North Phoenix. The project, financed with a $70.85 million construction loan arranged by JLL, is expected to open in 2028 and will serve hospitality operators in the Phoenix hotel market as demand grows.
Why it matters
The property combines a 133-key Tapestry Collection by Hilton hotel with a 124-key Homewood Suites by Hilton property, a dual-brand structure intended to serve the expanding employment base and healthcare and leisure travelers. Its position less than one mile from Mayo Clinic's Phoenix campus and near the new Brooks Rehabilitation Hospital signals developers betting on medical-driven demand in the North Phoenix corridor.
The project adds 257 rooms across two Hilton brands financed by a $70.85 million five-year, floating-rate construction loan arranged by JLL's Hotels & Hospitality Group. The stub does not provide comparable Phoenix-area supply or occupancy benchmarks for the same period.
The players
Plaza Companies
Plaza Companies is a Phoenix-area development firm that co-develops hotel and mixed-use projects with a track record in branded select-service and extended-stay product.
Fayth Hospitality
Fayth Hospitality is a hotel development and ownership company that partners with national brands on select-service and extended-stay properties.
JLL
JLL is a global commercial real estate services firm whose Hotels & Hospitality Group arranges financing and advisory for hotel developers and owners.
The details
JLL's Hotels & Hospitality Group arranged the construction loan on behalf of Plaza Companies and Fayth Hospitality, a five-year, floating-rate structure that carries interest-rate exposure until the hotel stabilizes. The six-story building pairs upscale Tapestry Collection rooms with extended-stay Homewood Suites units, allowing one site to capture both short-stay leisure guests and longer-stay patients and visiting professionals. The development includes 2,564 square feet of meeting space, a fitness center, an outdoor pool, and a first-floor restaurant and bar operated by Renwick Hospitality Group. The developers previously partnered on the Tru by Hilton and Home2 Suites by Hilton at Park Central.
Timeline
2028: Hotel Six Four, Mayo Blvd is expected to open.
Market Landscape
The hotel sits within the Loop 101 growth corridor, where North Scottsdale, Desert Ridge and City North have also drawn continued investment. Its medical-district siting places it alongside a documented pattern of hospitality projects being built to serve healthcare and leisure travel rather than downtown convention demand alone.
Operators in Phoenix's hospitality and healthcare-adjacent segments should expect more select-service and extended-stay competition in the North Phoenix medical corridor by 2028. Owners weighing development financing should note that floating-rate construction debt of this kind shifts interest-rate risk to the borrower until the property stabilizes.
The takeaway
Hospitality operators should track how dual-brand projects near medical campuses perform on occupancy once the 2028 opening arrives, as that will show whether healthcare-anchored demand supports upscale and extended-stay rooms at once. Owners considering floating-rate construction debt should review rate-exposure terms with qualified counsel or a financial advisor before committing.
Further reading
For more on how hotel projects like this get built and financed, see Hospitality coverage on We are Main Street.
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