Old exchange building to be converted to hotel

Article Abstract:

Accor of France has purchased the Philadelphia Stock Exchange Building in Pennsylvania and will convert it into a 300-room hotel with the brand name Sofitel. The company, which operates 2,100 hotels in 142 countries, is the latest operator to convert city office buildings into lodging for business travelers. Accor is expected to initiate construction of the upscale hotel before the end of 1998 and is slated to be completed in spring 2000. Accor president for North American hotels John F. Lehodey said the primary market of the new hotel would be business travelers and groups seeking meeting space.

Comment:

Buys Philadelphia Stock Exchange Building in Pennsylvania and will convert it into a 300-room hotel with the brand name Sofitel

Facilities & equipment, Article, Accor

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A banquet facility expands by adding a 250-room hotel

Article Abstract:

The Twelve Caesars banquet facility is already profitable and will soon have a 250-room hotel connected to it. Competition could be stiff in an area that has seen 8,000 hotel rooms added or refurbished in the last couple years. But that doesn't worry owner/operator of the Radisson Philadelphia Hotel and Twelve Caesars, Howard Wurzach, who is investing his own money along with the funds and expertise of father-in-law, Daniel M. Tabas.

Expanded capacity, plant expansion, Radisson Philadelphia Hotel

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Center City lodgings slump hits new hotel

Article Abstract:

The Ritz-Carlton Hotel located south of City Hall, Philadelphia, is forced to seek new terms for the mortgages on its landmark building on the Avenue of the Arts, as the Center City lodging business is declining. The business for most of the hotels is declining due to weak economy, decline in spending by business travelers and a dwindling number of large conventions coming to Philadelphia.

Forecasts, trends, outlooks, Financial management, Hotels and motels, Finance, Forecasts and trends, Market trend/market analysis, Company financing, Ritz Carlton Hotel Company L.L.C.

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