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  • Residence Inn Hotel Opens in King of Prussia, Pennsylvania With the Brand’s New Design

    Residence Inn Hotel Opens in King of Prussia, Pennsylvania With the Brand’s New Design

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    Press Release
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    Aug 19, 2024 10:02 EDT

    The New Décor Provides Guests with a “Home Plus” Experience


    KING OF PRUSSIA, Pa., August 19, 2024 (Newswire.com)
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    The 136-suite Residence Inn by Marriott in King of Prussia, Pennsylvania, is open for business with its upscale, stylish décor that offers flexibility while creating a unique environment. Located at 127 South Gulph Road, the all-suite Residence Inn King of Prussia is owned and managed by Gulph Creek Hotels of Wayne, Pennsylvania.

    The Residence Inn King of Prussia offers its guests convenient access to Valley Forge National Historical Park, King of Prussia Mall, King of Prussia Town Center, Villanova University, CHOP Specialty Care & Surgery Center, and the Greater Philadelphia Expo Center.

    “We are pleased to finally open the Residence Inn in King of Prussia,” said Derek Sylvester, principal of Gulph Creek Hotels. “The Residence Inn is the centerpiece of a larger redevelopment that includes the 68-room Prussia Hotel a part of the Best Western Collection and four retail tenants that will provide a phenomenal Philadelphia destination for our guests.” The Residence Inn features 136 suites including 18 Double Queen studios, an outdoor pool, full bar and a 550 square-foot meeting room.

    Source: Gulph Creek Hotels

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  • Manhattan Beach Hotel Sells for $68M – Los Angeles Business Journal

    Manhattan Beach Hotel Sells for $68M – Los Angeles Business Journal

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    Manhattan Beach Hotel Sells for $68M

    The Residence Inn in Manhattan Beach has sold for $68 million.

    Jones Lang LaSalle Inc. represented the seller, Washington Holdings, in the offloading of the 176-room property. Land and Houses USA Inc. purchased the asset.

    Twenty Four Seven Hotels will manage the property.

    “The addition of Residence Inn by Marriott Manhattan Beach to our portfolio continues the expansion of our management footprint throughout California, offering a model that’s flexible and fast on its feet with unparalled area operational expertise,” the company wrote in a LinkedIn post.

    It’s been a difficult time for hotel sales. In California, sales volume fell by more than 56% year over year, according to data from Atlas Hospitality Group. The median price per room was down roughly 1% year over year statewide.

    In Los Angeles County, hotel transactions declined 55% year over year and the total dollar volume spent decreased nearly 36% year over year, Atlas reported.

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    Hannah Madans Welk

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