Wednesday, April 23, 2008

Phoenix's Hotel San Carlos not for sale, but seeks "partner"

[Source: AZCentral] -- They aren't using the word "sale," but the family that owns Hotel San Carlos is looking for someone to take over day-to-day operations of the 80-year-old landmark. "We are looking for someone to join our family and to take Hotel San Carlos to the next level," said Greg Melikian, who has owned the historic, the 121-room hotel on and off for 35 years. The price is negotiable, Melikian said, depending on who's interested. The family would like to wrap up the transaction by the end of the year, but will hold out if they don't find a suitable candidate, Melikian said.

Two things are driving the decision, the 83-year-old hotelier said. First, Melikian's wife, Emma, is slowly losing her eyesight to macular degeneration. Melikian would like to take her on a trip around the world while she still has some vision left, he said. Also, Melikian says that he'd like more time to spend on Arizona State University's Melikian Center, a university division that studies Eastern Europe and Eurasia. Melikian is of Armenian descent and he and his wife speak eight language between the two of them, he said. Melikian says that he has met with a handful of serious candidates, but he hasn't had any luck yet, he said. The family is still interested in having a financial interest in the hotel, he added. And they won't rush the decision, he said. "I want someone who is an asset to this hotel and an asset to this town," he said. [Note: To read the full article, click here.]