Hospitality management and consulting firm R.A. Rauch & Associates Inc. and investment firm PacVentures Inc., both of San Diego, recently acquired two Arizona hotel properties for a total of $8.65 million, the companies announced.
Acquired were the 170-room Quality Inn & Suites in Tucson, for $2.3 million, and the 126-room Country Inn & Suites in Deer Valley, for $6.35 million. The buyers plan renovations at both properties totaling approximately $2.2 million.
R.A Rauch now oversees three Arizona hotels, including the recently renovated and reopened Radisson Hotel Phoenix North.
Led by industry veteran Robert Rauch, R.A. Rauch owns and operates two Hilton-branded hotels in Carmel Valley, and also manages other properties on behalf of client owners, including The Keating Hotel, El Cordova Hotel and Lafayette Hotel.
PacVentures, led by President Kevin Wechter, acquires and develops industrial, retail, office and other types of commercial properties, with a focus on the Southwestern U.S.