Four Seasons Scottsdale Is Under Contract for $372 Million This Month

Four Seasons Resort Scottsdale at Troon North is under contract for $372 million, about $1.8 million per key across its 210 casitas and suites. Dallas-based Braemar Hotels & Resorts signed with Evergreen Acquisitions LLC, a Delaware buyer that put down a $10 million non-refundable deposit. Closing is targeted for October 22, subject to customary prorations. The Four Seasons flag stays; what changes is who owns the adobe casitas above Troon North in Scottsdale.

What does the price say about the resort?

Braemar bought the resort in 2022 for $267.8 million, or about $1.28 million per key. The new price, including about $23 million of planned capital spend, works out to a 6.2% capitalization rate on net operating income for the twelve months ended August 2026. The property opened in December 1999 in the foothills of Pinnacle Peak, with Sonoran Desert views, a spa, and golf access at Troon North. Condé Nast Traveler's 2026 Readers' Choice Awards again listed it among the Southwest's stronger resorts. For guests, the sale is a balance-sheet event first: rates, restaurants, and service standards should not flip overnight when the deed does.

Why is Braemar selling now?

The Scottsdale deal is part of a summer of exits as Braemar shrinks toward a self-managed REIT and pays remaining fees to separate from Ashford. Earlier sales included Park Hyatt Beaver Creek for $176 million, a July package of Ritz-Carlton Sarasota plus Hotel Yountville and Bardessono for $437.5 million, and Pier House Resort & Spa in Key West for $190 million. After Scottsdale closes, Braemar says it will hold seven hotels, including Ritz-Carlton Lake Tahoe, Ritz-Carlton St. Thomas, and Ritz-Carlton Reserve Dorado Beach. CEO Richard Stockton has framed the sales as cleaning the ledger so the remaining portfolio can stand on its own by mid-November.

What should guests watch before October 22?

Ask whether any capital projects tied to that $23 million plan will close rooms or spa hours this winter, and confirm that Four Seasons stays the operator after Evergreen takes title. Travellers comparing Arizona desert resorts can keep booking Scottsdale as usual until a brand or renovation notice says otherwise. Ownership shifts at this level usually matter more to lenders than to guests checking in for golf and pool time, but the $372 million sticker is the clearest recent signal of what a mature Four Seasons desert resort can fetch in 2026.