The Buccini/Pollin Group (BPG), a privately held, real estate acquisition, development and management company (BPG), has purchased 364-room Sheraton Society Hill Hotel in Philadelphia.
Financial details of the transaction have not been divulged.
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This hotel will be managed by PM Hotel Group, a national hotel management company based in Washington, D.C..
BPG co-founder Dave Pollin said: “The Sheraton Society Hill is a remarkable asset in an unmatched location surrounded by numerous business and leisure demand generators, from the Liberty Bell and Independence Hall to Fortune 500 companies like Comcast and Aramark.
“We are in the advanced planning stages of a complete makeover of the hotel to upgrade the guest experience. In addition to improving both guest rooms and public spaces, we intend to change brand affiliations to better match and serve the surrounding community.”
Located in the Old City district of Philadelphia at One Dock Street, the hotel is close to historical attractions, including The National Constitution Center and Penn’s Landing.
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By GlobalDataThe hotel has indoor swimming pool, fitness room, and a business centre.
It also provides 20,000ft2 of meeting and event space, including the 7,800ft2 ballroom that can accommodate up to 900 guests, restaurant called Taste, and Club Lounge offering a complimentary continental breakfast.
Pollin added: “Hotel guests can take a short stroll down cobblestone streets to Philadelphia’s most renowned restaurants and cultural attractions, while also being just blocks from the city’s financial district and City Hall.
“With nearly 370 rooms, more than 20,000 sq. ft. of function space and a textbook blend of amenities, the Sheraton Society Hill is the perfect location for all downtown Philadelphia travel occasions. The Buccini/Pollin Group looks forward to unlocking significant value through branding, renovation and operational investments.”
