sheraton philadelphia society hill
PM Hotel Group Opens Philadelphia Marriott Old City Following Renovation and Rebranding of Former Sheraton Philadelphia Society Hill
PM Hotel Group | July 29, 2019
PHILADELPHIA, July 29, 2019—The Philadelphia Marriott Old City today announced it now is open and welcoming guests as the city’s newest hotel in a flag-raising ceremony celebrating its conversion from the former Sheraton Philadelphia Society Hill. Operated by PM Hotel Group, one of the nation’s leading hotel management companies, the hotel has completed phase one of a multi-million dollar, total renovation, including the city’s introduction to the new elevated concierge lounge experience, M Club. “This hotel has been an important member of the community for more than three decades,” said Jeremy Costa, hotel general manager. “...
RLJ Lodging Trust Sells the Sheraton Philadelphia Society Hill for $95.5 Million or Approximately $262,000 Per Key
RLJ | March 28, 2018
BETHESDA, Md.--RLJ Lodging Trust (the "Company") (NYSE:RLJ) today announced that the Company has sold the 364-room Sheraton Philadelphia Society Hill ("Sheraton Philadelphia") in Philadelphia, PA for $95.5 million or approximately $262,000 per key. "The sale of another non-core asset at a highly accretive valuation highlights the meaningful progress we have achieved in realizing the embedded value from the FelCor merger," commented Ross H. Bierkan, President and Chief Executive Officer. "Not only is this disposition highly accretive on a valuation basis, but it is also accretive to our portfolio RevPAR and EBITDA margin. With this trans...
