KING OF PRUSSIA, Pa.
DoveHill and Wurzak Hotel Group announced the combined venture has acquired the Hyatt Place King of Prussia hotel, expanding its growing vertically integrated investment platform.
Wurzak Hotel Group assumed management of the Hyatt Place and adds this hotel to its Philadelphia portfolio now consisting of five hotels in the region. The 129-room Hyatt Place hotel was built in 2010 and the new ownership plans to immediately implement property wide upgrades with significant enhancements to the lobby, bar and fitness center and guest rooms.
The Hyatt Place Philadelphia/King of Prussia is located in the heart of the vibrant 24/7 live, work, play King of Prussia Market which is home to many of the world's top pharmaceutical companies, the largest retail mall in the country, and ranked as one of the top places to live for young professionals.
"We are excited to add the Hyatt Place King of Prussia to our growing portfolio,” said Eric Davies, chief operating officer of the Wurzak Hotel Group. “The significant and ongoing development in King of Prussia's entertainment, retail and office sectors have created strong hotel demand.”
The Hyatt Place Philadelphia/King of Prussia hotel offers on-site meetings options for smaller groups and is located near the Valley Forge Convention Center and Philadelphia Expo Center.
The acquisition follows DoveHill and Wurzak Hotel Group's announcement they are developing a 323-room, dual-brand Starwood Tribute Portfolio and Element by Westin hotel in Fort Lauderdale, Fla.