Courtyard Philadelphia to Join Autograph Collection
- Jun 22, 2017
Ashford Hospitality Prime entered into an agreement with Marriott to convert its Courtyard Philadelphia Downtown hotel to an Autograph Collection asset. The company also tapped HFF to begin marketing for sale its Marriott Plano Legacy hotel. Ashford is continuing its strategy to reposition or sell all non-core properties.
The agreement states that the hotel is to be converted to Autograph by June 30, 2019 as part of a product improvement plan that is estimated at $23 million. The plan includes updates to the guestrooms, bathrooms, lobbies, hallways, restaurant and meeting space. Marriott will continue to manage the property after conversion.
A historic gem in the heart of Philly
Located at 21 North Juniper St., the 15-story Courtyard Philadelphia offers 416 guestrooms and 83 suites. The property is listed on the National Register of Historic Places. The list of hotel amenities includes 12 meeting rooms at a total of 10,111 square feet of space, free Wi-Fi, an on-site market, a business center, the NINETEEN 26 restaurant, a Starbucks and a fitness center. Nearby local attractions include the Liberty Bell, Franklin Institute, Philadelphia Zoo, Independence Hall and the Betsy Ross House.
“With its prime location across from City Hall and historical building designation, the upbranding of the Courtyard Philadelphia to an Autograph Collection will occupy a desirable niche in the attractive downtown Philadelphia market. As for the Marriott Plano, the property has performed very well over the last several years in the dynamic and growing Plano market and we currently see an opportunity to capitalize on the growth and investment taking place in that market,” said Richard Stockton, president & CEO of Ashford, in prepared remarks.
Images courtesy of Courtyard Philadelphia Downtown