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HEI Hospitality announced that it has acquired the 289-room Westin Philadelphia in Pennsylvania, from Starwood Hotels and Resorts Worldwide for $89 million. HEI expects to invest up to an additional $10 million to completely renovate the existing guest rooms, meeting space and public areas, add four additional guest suites and reposition the restaurant under a to-be-announced re-conception plan. Merritt Hospitality will operate the hotel.
To view the Westin Lobby view, click the cross.
"Upon completion of the renovation, which should occur during third quarter 2006, we expect the Westin to be firmly positioned as one of the most competitive luxury hotels in the city," said Clark Hanrattie, HEI senior vice president and chief investment officer. "This is our sixth major hotel investment we have announced in 2005, and we will continue to actively seek to invest in upscale and luxury properties throughout the top U.S. markets."
Each guest room features the Westin Heavenly Bed and related accessories, a two-line telephone, data port and an in-room safe. High-speed Internet access is available in the hotel's suites and Westin Guest Office rooms. The Grand Luxury suites are unusually spacious, with marble baths and Westin's other special touches.
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