Ashford Prime to Convert Courtyard Philadelphia Downtown to Autograph

DALLAS—Ashford Hospitality Prime Inc. has entered into an agreement with Marriott to convert its Courtyard Philadelphia Downtown hotel to an Autograph Collection property.

The agreement with Marriott calls for the Courtyard Philadelphia to be converted to an Autograph hotel by June 30, 2019, pursuant to a conversion PIP currently estimated to be approximately $23 million—including updates to the guestrooms, guest bathrooms, corridors, lobby, restaurant and meeting space. Marriott will continue to manage the property after the conversion under a management agreement.