Convention goers and visitors in Philadelphia have a new hotel.
Home2 Suites by Hilton is a $60 million, 248-room hotel at 1200 Arch St., on opposite corners from the Pennsylvania Convention Center and Reading Terminal Market. It opened Tuesday.
Its the 20th hotel Hilton Worldwide has opened under the two-year-old Home2 Suites brand and its largest to date.
The property was developed by two Philadelphia companies, Wurzak Hotel Group and Parkway Corp. It is owned by a joint venture of DoveHill Partners, Parkway and the New York City investment fund Glenmont Capital Management LLC.
The hotel was built with $10 million in so-called new market tax credits.
“The project was the culmination of a public/private effort to add hotel rooms in the city and hundreds of new jobs for residents,” said Robert Zuritsky, president of Parkway, which is better known for its parking facilities. “We were gratified to have the generous support from the state and city for what was our first mixed-use hotel and retail development.”
The hotel also includes 9,750 square feet of retail-and-restaurant space.
This fall, it will open BurgerFi and Panera Bread.
Source: Philadelphia Business Journal
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