An Atlantic City-based hotel management company, which
owns the Shore town's Claridge Hotel and the shuttered Atlantic Club, has
purchased and added a Bucks County hotel to its portfolio.
TJM Atlantic City announced Friday that it has purchased
the 274-room Radisson Philadelphia Northeast for $15 million.
A subsidiary of Florida-based real estate firm TJM
Properties, TJM Atlantic City also owns the Shore town's 500-room Claridge
Hotel, which the company purchased in 2014 for $12.5 million. The hotel company
also owns the Atlantic Club, one of our casinos that closed in Atlantic City
last year.
TJM Atlantic City is in expansion mode, building its
portfolio to include individual hotels, branded properties and resorts,
according to Cem Erenler, vice president operations and business development.
The Radisson Philadelphia Northeast has about 20,000
square feet of function space and 19 meeting rooms, including the Forest
Ballroom, the "largest hotel ballroom facility in the area,"
according to TJM.
Source: Philadelphia
Business Journal
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