How will the Ritz-Carlton opening impact Paradise Valley’s revenue?

By Melissa Rosequist | YourValley

It’s been a long time coming, but the Ritz-Carlton Paradise Valley is expected to open this winter.

Scottsdale-based Five Star Development is leading the project that will include a new hotel, residences and a luxury shopping center known as The Palmeraie.

Paradise Valley residents have long been awaiting the new property, which was first approved more than six years ago, in January 2016. At the time of approval, Five Star Development officials anticipated a 2018 opening, which has been delayed for various reasons.

The hotel will be the first Ritz-Carlton to be build in north America in more than a decade, and is the centerpiece of a $2 billion, 122-acre luxury master planned development. The resort is to feature 215 hotel rooms, in addition to the Ritz-Carlton Residences, which offers multimillion-dollar estate homes, 81 condominium-style homes and 39 single family homes.

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