Arden Group Acquires DoubleTree Suites by Hilton Philadelphia West
Tuesday July 16th, 2013 - 4:28PM E
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PHILADELPHIA—Arden Group has acquired the 253-room DoubleTree Suites by Hilton Philadelphia West from the lender, an affiliate of LNR.
The property features more than 8,000 sq. ft. of meeting space, an indoor pool, whirlpool, fully equipped fitness center, business center and onsite dining options.
Arden will invest $6M into the hotel to renovate guestrooms and public spaces and to add a new restaurant, which will be completed in Fall 2014.
Tags: • Hospitality • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.