Phoenix's Oldest Resorts Are Spending Millions to Keep Up — Here's What It Means for the Valley's Real Estate Market
If you've driven past Camelback Mountain lately, you've probably noticed Phoenix is in the middle of a hospitality boom. New hotels are breaking ground across the metro, and now one of the Valley's most iconic legacy properties is joining in with a major renovation of its own.
Sanctuary Camelback Mountain Resort & Spa, the 110-room property tucked into 53 acres at the base of Camelback Mountain in Paradise Valley, just announced a multi-year, multi-phase renovation. Here's what's happening, why now, and what it tells us about where the Valley's growth is headed.
What's Changing at Sanctuary
Starting in summer 2027, every one of the resort's 110 guest rooms and casitas will get a full interior refresh, with the project targeted to wrap up by September 2027. From there, the resort shifts focus to its food and beverage outlets and the Sanctuary Spa in 2028. The resort brought on Hart+Howerton, a design firm known for high-profile residential and resort work, to lead the project as architect and designer of record.
This isn't the property's first big investment recently, either. Sanctuary just wrapped a $7 million renovation of its meeting and event spaces in 2025, touching up areas like the Views Ballroom and Lower Lawn.
Why It's Happening Now
The renovation follows a change in ownership. After a group of out-of-state institutional investors held the resort for several years, local investment group RJ Hospitality stepped in as a financial partner in 2025, and by February 2026 the resort had transitioned to fully local ownership and management. Leadership has been vocal about wanting the reinvestment to reflect the character the community has valued for decades.
The Bigger Picture for West Valley Buyers
Here's the part that matters most if you're thinking about buying in the Phoenix area: this isn't an isolated event. Phoenix is currently one of the top markets in the country for new hotel construction, and legacy properties like Sanctuary are having to reinvest heavily just to stay competitive with all the new builds coming online.
That kind of hospitality investment doesn't happen in a vacuum. When resorts and hotel developers pour money into a market, it's usually a signal that demand — and confidence in long-term growth — is strong. Historically, that kind of momentum tends to ripple outward, pushing new development, amenities, and buyer interest further into surrounding areas, including communities across the West Valley like Goodyear, Buckeye, Avondale, and Surprise.
If you've been watching the market and wondering whether now is the right time to buy, moves like this are worth paying attention to. It's one more data point suggesting the Valley's growth story isn't slowing down.
Thinking About Buying in the West Valley?
I stay on top of what's actually happening in the Phoenix and West Valley markets so you don't have to piece it together yourself. If you're curious how developments like this could affect your home search or your timeline to buy, I'm happy to walk you through it.
Juan Grimaldo The Grimaldo Group at eXp Realty (480) 365-8346 | juang@teamgrimaldo.com thegrimaldogroup.com
