Scottsdale’s luxury hospitality market is seeing another major transaction as the Four Seasons Resort Scottsdale at Troon North is under contract to sell for $372 million, following the recent sale of the Fairmont Scottsdale Princess.
Dallas-based Braemar Hotels & Resorts has entered into a definitive agreement to sell the landmark resort to Evergreen Acquisitions LLC, a Delaware-based company. The transaction, disclosed in filings with the U.S. Securities and Exchange Commission, is expected to close Oct. 22, subject to customary adjustments.
The deal values the property at approximately $1.8 million per room, highlighting the significant investment value of Scottsdale’s premier luxury resorts.
Located in the foothills of Pinnacle Peak, Four Seasons Resort Scottsdale at Troon North opened in December 1999 and has established itself as one of Arizona’s most prestigious hospitality destinations.
The resort is celebrated for its luxurious accommodations, Sonoran Desert scenery, locally inspired spa experiences and access to championship golf at Troon North. It recently earned recognition among the Southwest’s best resorts in Condé Nast Traveler’s 2026 Readers’ Choice Awards.
Little is publicly known about Evergreen Acquisitions, which was incorporated in Delaware on June 11.
Braemar received a $10 million nonrefundable earnest money deposit in connection with the agreement. Including anticipated capital expenditures of $23 million, the transaction represents a 6.2% capitalization rate based on the resort’s net operating income for the 12 months ended August 2026.
Scottsdale sale part of larger strategy
The Scottsdale transaction is part of Braemar’s broader effort to sell assets, strengthen its balance sheet and transition into a self-managed real estate investment trust.
Earlier this year, the company sold the Park Hyatt Beaver Creek Resort & Spa in Colorado for $176 million. Additional transactions included three luxury hotels totaling $437.5 million and the Pier House Resort & Spa in Florida for $190 million.
Following the Scottsdale sale, Braemar’s portfolio will consist of seven properties, including The Ritz-Carlton, Lake Tahoe; The Ritz-Carlton, St. Thomas; and Ritz-Carlton Reserve Dorado Beach in Puerto Rico.
The company expects its transition to self-management to generate more than $25 million in annual corporate expense savings.
“With Four Seasons Resort Scottsdale under contract and our transition to self-management on schedule, Braemar is well positioned to deliver long-term value for our shareholders,” said Richard Stockton, president and CEO of Braemar Hotels & Resorts.
Stockton said strong fundamentals continue to support the company’s luxury hotel investment strategy.
For Scottsdale, the pending transaction represents another significant ownership change in a hospitality market known for attracting luxury travelers, major events and high-end resort investment.
The Four Seasons sale also underscores continued investor interest in established Arizona resort properties, even as hotel owners nationwide reassess portfolios, financing costs and long-term investment strategies.
