Listed on the National Register of Historic Places, the former Courtyard by Marriott Philadelphia Downtown underwent a rebranding and renovation in excess of $20 million to create The Notary Hotel.
An update from our 2014 report, this report aims to assist owners in increasing their understanding and awareness of the franchise business model and current market trends. The fees outlined in this article apply solely to hotels operating in Europe.
The property was purchased by a group of hotel investors from the San Francisco Bay Area for $11,825,000 which equates to $122,000 per key and a 10% Cap Rate on Proforma. The group also owns and operates multiple hotel investments in the California Lodging Market.
After undergoing a multi-million dollar, five-month, extensive renovation, the Grand Dame re-opens in time for the celebration of Grand Resort Bad Ragaz's 150th anniversary
The 80-room hotel and 6.5+/- acres of fee simple land sold for $3,800,000 to ASHTAVINAYAK LLC.
The 244-room property is slated to open in 2022 and will be located on 63-69 City Road in Southbank