PHILADELPHIA-The city's largest hotel—the 23-story Philadelphia Marriott Downtown—is being marketed for sale by its owner Host Hotels & Resorts, according to a published report.
The trade newsletter Real Estate Alert, Hoboken, NJ reports that Host is hoping to land a buyer that will pay as much as $325 million for the 1,400-room property. The broker marketing the property is Eastdil Secured, according to the report. Host Hotels also owns the Four Seasons and Airport Marriott hotels in Philadelphia.
The Philadelphia Marriott was built in 1995 and expanded in 1999. The property underwent a renovation in 2011 valued at $54 million . See story in The Inquirer.
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