Starwood Hotels & Resorts Worldwide, Inc. is selling its trio of hotels near Philadelphia International Airport.
The complex includes the 251-room Sheraton Suites Philadelphia Airport Hotel, the 177-room Four Points by Sheraton Philadelphia Airport and Aloft Philadelphia Airport with 136 rooms — 564 rooms combined.
Simon Turner, president of global development for Starwood, said Friday: “Starwood continues its systematic pursuit of an asset-light strategy by selling hotels to owners who share our vision for each property. We are fortunate to have a quality portfolio of owned assets in a number of high barrier-to-entry markets.
“With continuing improvements in hotel industry fundamentals, historically low interest rates and improving capital markets conditions, we’ve seen a meaningful increase in buyer interest . . . .”
The airport complex joins the Philadelphia Marriott as significant properties for sale. A spokesman confirmed earlier this month that the Downtown Marriott, with 1,408 rooms, is looking for a buyer.
Peter Tyson, vice president of PKF Consulting USA, which tracks the region’s hospitality industry, said the airport complex obviously benefits from its location.
” is excellent in terms of capturing demand generated by the airport and from the surrounding area,” Tyson said in an e-mail. “The airport is responsible for a significant number of room-nights: distressed passengers; passengers with early morning flights preferring to spend the trip’s eve near the airport; airline crews; in-transit passengers with their second-leg flights the following day; and groups preferring to meet near the airport for ease of travel.
“Further, there are many companies in southwestern Philadelphia and Delaware County that generate demand for hotel rooms.”
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