AZ-WALTON-GLOBAL
Walton Global, a real estate investment and land asset management company with US$3.6 billion under management, is pleased to announce its acquisition of the Smoke Tree Resort property located west of Scottsdale Road on Lincoln Drive in the Town of Paradise Valley, Arizona.
The deal closed on June 29, 2022, with ST Holdings, a subsidiary of Scottsdale-based Walton Global Holding, LLC. Walton acquired the 5-acre property for $14 million with plans to build a new boutique hotel that will serve locals and support Arizona tourism.
Walton intends to incorporate an elegance in the new design that Paradise Valley is known for and avoid controversial elements that have challenged Smoke Tree and other hotel redevelopments in the past such as roof top bars, condominiums, for-sale units, height, density and other concerns that have hampered revitalization efforts in the past.
The distinctive and strategically positioned property was subject to bankruptcy and now has fresh opportunities and a renewed sense of optimism.
“As a Paradise Valley resident for 15 years, I have driven past the Smoke Tree Resort often wondering why it sat dormant for so many years. When Walton was introduced to the opportunity to acquire the resort and learned about its financial challenges, we acted quickly, conducted our diligence and secured the property. I’m excited about our goal to revive this historic landmark into a place that Paradise Valley residents and Phoenix as a whole can point to again as a prime destination to experience that also meets the high standards of the community’s ethic,” said Walton Global executive vice president of Business Development, Matt Keister.
The Smoke Tree Resort was originally built in 1954. The resort’s Lincoln Drive facing restaurant – The Other Place – was also a Paradise Valley landmark but attempts to reopen under new management ultimately failed and the restaurant has been shuttered for over a decade.
Walton is already surrounding itself with “best in class” professionals including Allen & Philp, an architectural firm based in Scottsdale with an exceptional hotel portfolio that includes The Sanctuary, The Boulders, Fairmont Princess, and several other award-winning hotel properties.
“I believe Walton’s vision will be consistent with Paradise Valley’s wishes and sensitivities and our capital is patient. It is extremely important to us to listen to the Town of Paradise Valley Council and the community before we finalize our designs. We are looking forward to achieving a consensus that will result in an extraordinary gathering place for the residents of Paradise Valley that will also produce economic benefits for the Town and Arizona,” said Walton Global CEO Bill Doherty.
Walton intends to reach out to Paradise Valley residents to solicit input before hotel design plans are finalized.
“Feedback we receive from surrounding residents will be integrated into the future vision of the new hotel. And to ensure that transparency and communication remains open throughout the project’s evolution, we will be creating platforms such as a website and social media sites to post routine updates. We want our Town to embrace the project and to be proud of what we feel is the gateway to Paradise Valley,” Keister said.
About Walton Global
Walton Global is a privately-owned, leading land asset management and global real estate investment company that concentrates on the research, acquisition, administration, planning, and development of land. With more than 43 years of experience, Walton has a proven track record of administering land investment projects within the fastest growing metropolitan areas in North America. The company manages and administers US$3.6 billion in assets on behalf of its global investors located in 73 countries, builders and developers and industry partners. Walton has more than 97,000 acres of land under ownership, management and administration in the United States and Canada with business lines ranging from exit-focused pre-development land investments, builder land financing and build-to-rent. For more information visit walton.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220629005874/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Deciphera Receives European Commission Approval of ROMVIMZA™ (vimseltinib) for the Treatment of Tenosynovial Giant Cell Tumor (TGCT)17.9.2025 21:46:00 CEST | Press release
Vimseltinib is the first and only therapy with marketing authorization for the treatment of TGCT in the European Union Ono Pharmaceutical Co., Ltd. (Headquarters: Osaka, Japan; President and COO: Toichi Takino; “Ono”), today announced that the European Commission (EC) has approved ROMVIMZA™ (vimseltinib) in the European Union (EU) for the treatment of adult patients with symptomatic tenosynovial giant cell tumor (TGCT) associated with clinically relevant physical function deterioration and in whom surgical options have been exhausted or would induce unacceptable morbidity or disability1. “The European Commission’s approval of vimseltinib for TGCT is a significant milestone for Deciphera, ONO, and TGCT patients across the European Union who are in need of a non-invasive treatment option. We are excited to leverage our global commercial infrastructure to bring vimseltinib to these patients,” said Ryota Udagawa, President and Chief Executive Officer of Deciphera. “We look forward to worki
Northern Escape Heli-Skiing Sees Global Surge in Demand as Adventurers Seek Canada’s Legendary Powder17.9.2025 18:09:00 CEST | Press release
Luxury adventure travel continues accelerating, with analysts projecting ~7.6% annual growth through 2030 [1][5]. Meanwhile, global tourism reached record highs in 2024 [2], and ski tourism is above pre-pandemic norms [3]. Northern Escape Heli-Skiing (NEH), named World’s Best Heli-Ski Operator by the World Ski Awards [4] in 2022, 2023, and 2024, continues to welcome a truly international mix of guests each winter. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250909723150/en/ Global Appeal Post-pandemic travellers prioritize remote, nature-led adventures and privacy-forward itineraries [1][3]. Adventure tourism is on a sharp upswing globally [5], while research highlights how social media and influencer content accelerate demand for marquee mountain experiences [7]. At the same time, heli-sports are forecast to expand steadily across Canada, Europe, APAC, and South America [8]. World’s Best Heli-Ski NEH operates in BC’s Ske
Bacardi Announces Internal Leadership Moves Within People and Supply Chain Organizations17.9.2025 16:35:00 CEST | Press release
Family-owned company taps internal talent to succeed in key global and regional roles Bacardi Limited, the world’s largest privately held international spirits company, announces several internal moves, underscoring the company’s global approach to leadership development and a commitment to talent. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250917778482/en/ Bacardi announces new roles for Dave Ingram and Nicole Zukowski. Dave Ingram has been appointed to the role of Chief People & Business Transformation Officer, responsible for delivering the next chapter for building an organization that is fit for the future. In this role, Dave will continue to prioritize talent management, succession planning, performance management, and capability building which are core to setting a legacy of more than 163 years for the success of generations to come. Dave, a member of the Bacardi Global Leadership Team, most recently served as Chi
Wildix and RoboReception’s Joint AI Rollout Eliminates Missed Calls, Unlocking £9 Million in New Patient Value Across UK Healthcare17.9.2025 15:10:00 CEST | Press release
65 Dental Practices Demonstrate Clear ROI With a Clinician-Designed AI Workflow: Zero Missed Calls, Reduced Frontline Workload, Faster Patient Care and Measurable Returns at ScaleThe Results Build on Wildix’s Recent Launch of Wilma AI, the Embedded Agentic AI Layer Behind its Secure, Scalable UCaaS Platform Wildix, a global leader in AI-powered business communications solutions, and RoboReception, one of the UK’s fastest-growing healthcare software providers, today announced results from an AI rollout reshaping patient access and practice economics. Since May 2025, the joint 24/7 AI receptionist has answered over 50,000 patient calls with zero missed, converting them into £9 million in new patient revenue and returning more than 2,000 hours to clinical care. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250917199595/en/ Wildix and RoboReception AI Rollout Unlocks £9M in Patient Value, Handles 50,000 Calls with Zero Missed S
KBS Partners with Rimini Street to Accelerate its AI Vision17.9.2025 15:00:00 CEST | Press release
Korea’s public broadcasting network prioritizes funding new AI initiatives instead of costly SAP upgrades by leveraging Rimini Support™ for SAP Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, management and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced Korean Broadcasting System (KBS) has partnered with Rimini Street to provide support for its SAP ECC 6.0, a strategic move that has helped to fund and accelerate its AI vision. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250917964406/en/ KBS Partners with Rimini Street to Accelerate its AI Vision Central to KBS’s AI-enabled future is the valuable data stored in its core SAP system, a source that encompasses more than 20 years of information unique to the organization. Drawing upon this rich resource, KBS plans to create multiple AI projects and ongoing
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom