Transactions reported this week included a hotel in Philadelphia.
RLJ Lodging Trust sold the 364-room Sheraton Philadelphia Society Hill on Philadelphia, Pa., for $95.5 million or approximately $262,000 per key.
The buyer was The Buccini/Pollin Group, which plans a multi-million dollar renovation and rebranding. PM Hotel Group, a national hotel management company, will manage the hotel.
Located in the Old City district of Philadelphia at One Dock St., the hotel offers a close proximity to a number of historic attractions, including the National Constitution Center and Penn’s Landing. Amenities at the hotel include an indoor swimming pool, fitness center and onsite restaurant, as well as 20,000 square feet of meeting and event space.
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