Philadelphia- and Fort Lauderdale, Fla.-based Wurzak
Hotel Group and an associated real estate investment firm have acquired the
Hyatt Place King of Prussia hotel, the companies said in a release Wednesday.
Wurzak development director Jake Wurzak said the price
was $13 million.
Wurzak and DoveHill Holdings will spend more than $1
million on significant upgrades to the lobby, bar, fitness center, and guest
rooms of the 129-room hotel at 440 American Ave., north of the King of Prussia
Mall, Wurzak said.
The six-year-old hotel's previous owner was an affiliate
of Hersha Hospitality Trust of Philadelphia and Harrisburg, according to
records on Montgomery County's website.
Source: Philly.com
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