Property Name

Hilton

Location

Philadelphia, PA

Investment Summary

Together, the adjacent Hilton/Homewood Philadelphia City Avenue is a 329-key, institutional dual-branded hotel with a highly efficient operating model. The Hilton and Homewood Suites effectively operate as one property, sharing 26,000 square feet of meeting space and 1,300 parking spaces. These synergies result in a highly efficient operating model that consistently delivers strong results, as evidenced by the hotel’s historical and in-place cash flows. The properties will be managed by DoveHill’s vertically integrated hospitality management company, The Wurzak Hotel Group.
The Hilton was built in 2000 and was fully renovated in 2016, while the Homewood Suites was built in 2005 and fully renovated in 2022. The properties benefited from over $10 million in capital investment since 2015. DoveHill plans to strategically invest in guest-facing, ROI-driven capital projects and provided targeted improvements to build upon the Hotel’s tremendous reputation.