X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ROYERSFORD, PA-Staybridge Suites, a brand owned by InterContinental Hotels Group, is expanding in the Philadelphia market with the addition of a fifth hotel to be located in Royersford, about 30 miles from Center City. The $10 million project is expected to break ground July 1 and is scheduled for completion in July 2009.

The property is owned by Latitude Hotels Group Royersford LP and will be managed by Ocean Hospitalities Inc. under a license agreement with an InterContinental Hotels Group company. Denver Architects of Glen Mills, PA was selected as architects for the 104-key, 68,730-sf hotel, which will feature rooms with fully equipped kitchens and work areas. The hotel will also house a 1000-sf meeting room, a business center, a 24-hour convenience store and a fitness center. Reading, PA-based E.R. Steubner Inc. will be the builder, and construction will be managed by Castle Drawbridge Associates of Bala Cynwyd, PA.

Dan Henretty, IHG’s regional director of franchise development, tells GlobeSt.com that the company targeted the area because of the strong demand generators. Those demand generators include the many major companies located nearby, including Cingular, GlaxoSmithKline, Wyeth and Verizon. According to Robert Radomski, VP of brand management and extended-stay brands for IHG, about 80% of Staybridge customers are business travelers. The hotel’s owners hope to capture some of the tourist traffic to nearby Valley Forge National Park, and to that end have included Valley Forge in the hotel’s official name: Royersford Valley Forge.

Perhaps because Staybridge caters mainly to business travelers, the brand has remained strong despite the slowdown in the economy. “We’re not seeing any indication of a slowdown in development of any of our brands,” says Radomski. “Our pace of signings across several brands is stronger and heavier now that it has ever been. There’s no slowing as far as the pace of development either. There hasn’t been any slowdown in the pipeline of deals that have been executed or are in various stages of planning or construction.”

There are currently more than 100 Staybridge Suites open nationwide, and Radomski says the company has more than 150 hotels in its pipeline. The first Staybridge outside the Americas region will open its doors in Liverpool, England in June.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.