Starwood puts hotels near airport for sale

Starwood Resorts & Resorts Worldwide Inc. is selling its trio of resorts near Philadelphia International Airport.

The complex has the 251-room Sheraton Rooms Philadelphia Airport Resort, the 177-room 4 Points by simply Sheraton Philadelphia Airport, and the Aloft Philadelphia Airport with 136 rooms — 564 rooms in every.

Simon Turner, president involving global development with regard to Starwood, said Fri: “Starwood continues the systematic pursuit of a good asset-light strategy by selling hotels to owners that share our vision for each property. We have been fortunate to get a quality profile of owned assets in a number of high-barrier-to-entry markets.

“With continuing improvements in hotel business fundamentals, historically low interest, and improving capital markets problems, we’ve seen the meaningful increase in purchaser interest. ”

The complex joins the actual Philadelphia Downtown Marriott as significant properties on the market. A spokesman confirmed this month the Marriott, with 1, 408 bedrooms, needed a buyer.

“What is going on is just a reflection involving improvements in the credit markets, where loaning continues to become more available for hotel purchases, ” said lodging analyst C. Patrick Scholes at kunne SunTrust Robinson Humphrey Inc. Starwood offers “been trying to turn out to be ‘asset-light’ for about eight years today…. to concentrate more on their own global hotel management and franchise business. ”

Philip Tyson, vice president of PKF Talking to USA, which tracks the region’s hospitality business, said the complicated obviously benefits from the location.

It “is excellent with regards to capturing demand generated by the airport terminal and from the encircling area, ” Tyson said in an email. “The airport is in charge of a substantial number of room-nights: affected passengers, passengers with early-morning flights preferring to invest the trip’s eve near the airport terminal, airline deck hands, in-transit passengers with their second-leg flights these day, and groups preferring to meet near the airport terminal….

“Further, there are lots of companies within southwestern Philadelphia and Delaware County that generate demand for rooms in hotels. ”



Contact Suzette Parmley at kunne 215-854-2855, sparmley@phillynews. com, or follow upon Twitter @SuzParmley.


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Starwood Resorts & Resorts Worldwide Inc. is selling its trio of resorts near Philadelphia International Airport.

The complex has the 251-room Sheraton Rooms Philadelphia Airport Resort, the 177-room 4 Points by simply Sheraton Philadelphia Airport, and the Aloft Philadelphia Airport with 136 rooms — 564 rooms in every.

Simon Turner, president involving global development with regard to Starwood, said Fri: “Starwood continues the systematic pursuit of a good asset-light strategy by selling hotels to owners that share our vision for each property. We have been fortunate to get a quality profile of owned assets in a number of high-barrier-to-entry markets.

“With continuing improvements in hotel business fundamentals, historically low interest, and improving capital markets problems, we’ve seen the meaningful increase in purchaser interest. ”

The complex joins the actual Philadelphia Downtown Marriott as significant properties on the market. A spokesman confirmed this month the Marriott, with 1, 408 bedrooms, needed a buyer.

“What is going on is just a reflection involving improvements in the credit markets, where loaning continues to become more available for hotel purchases, ” said lodging analyst C. Patrick Scholes at kunne SunTrust Robinson Humphrey Inc. Starwood offers “been trying to turn out to be ‘asset-light’ for about eight years today…. to concentrate more on their own global hotel management and franchise business. ”

Philip Tyson, vice president of PKF Talking to USA, which tracks the region’s hospitality business, said the complicated obviously benefits from the location.

It “is excellent with regards to capturing demand generated by the airport terminal and from the encircling area, ” Tyson said in an email. “The airport is in charge of a substantial number of room-nights: affected passengers, passengers with early-morning flights preferring to invest the trip’s eve near the airport terminal, airline deck hands, in-transit passengers with their second-leg flights these day, and groups preferring to meet near the airport terminal….

“Further, there are lots of companies within southwestern Philadelphia and Delaware County that generate demand for rooms in hotels. ”



Contact Suzette Parmley at kunne 215-854-2855, sparmley@phillynews. com, or follow upon Twitter @SuzParmley.

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