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December 7, 2010

Pebblebrook Acquires Sofitel Philadelphia Hotel

Pebblebrook Hotel Trust has acquired the Sofitel Philadelphia Hotel in Pennsylvania, US, for $87m. The transaction was funded by a $56.1m secured loan, with the remaining provided by Pebblebrook's available cash. The 306-room hotel features 4,572m² of meeting space in a

By cms admin

Pebblebrook Hotel Trust has acquired the Sofitel Philadelphia Hotel in Pennsylvania, US, for $87m.

The transaction was funded by a $56.1m secured loan, with the remaining provided by Pebblebrook’s available cash.

The 306-room hotel features 4,572m² of meeting space in a building that once housed the Philadelphia Stock Exchange.

The hotel property continues to be managed by Sofitel-Accor.

“We are pleased to establish a new relationship with Accor and the Sofitel brand,” said Pebblebrook Hotel Trust CEO Jon Bortz. “They have exhibited strong success in the Philadelphia market and have a great reputation of offering a unique hotel experience, blending French elegance with American style.”

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