LOS ANGELES, July
29, 2015 /PRNewswire/ -- Real
estate investment and development
firm Laurus Corporation announced
today the completion of a
multi-million dollar repositioning
of the Hilton Garden
Inn Philadelphia/Fort
Washington. The complete
refresh comes on the
heels of the company's
acquisition ofthe city's
premier select service
hotelin 2013,
marking the next
chapter in the hotel's
successful history.
The enhancements have
been well received by
guests, with the hotel
experiencing a spike in
occupancy rates in recent months.
Ideally located only
15 miles north of
downtown Philadelphia along the
Pennsylvania
Turnpike business corridor,
the six story upscale
select-service hotel features 146
purposefully refreshed guestrooms,
tailored to meet the needs of
today's business
traveler. The
rooms are the largest
available in the market, and the
updated spaces now
feature new carpets, modern
furniture and fixtures, new
beds, completely refreshed
guest bathrooms,
thoughtfully-curated artwork
and improved lighting.
In addition to extensive
guestroom upgrades, Laurus
also completed significant
enhancements to the lobby,
meeting space totaling
3,350 square feet, and
also updated the adjacent
spacious outdoor courtyard with
ample seating areas and an
outdoor fire pit, creating
an appealing central gathering
space with direct
hotel access for
small and large-scale meetings and
events.
"The acquisition of
the Hilton
Garden Inn Philadelphia/Fort Washington provided an
opportunity for Laurus
to step in and extract
maximum revenue potential of an
extremely well-located hotel
with a strong brand affiliation that is
now thriving near the flourishing
downtown Philadelphia
area," said
Andres Szita,
Chairman and co-founder of
Laurus Corporation.
"The reinvigorated hotel
better serves the needs of
our guests and meets the
demands of corporate and
leisure travelers'
highly-connected personal
and professional lives.
Already, we are seeing
immediate increases in
revenue and most
importantly, improved guest
satisfaction."
The Hilton
Garden Inn Philadelphia/Fort Washington features many
unique amenities including
the brand's signature
restaurant, TheGreat American
Grill and The Pavilion
Lounge. The property also
features an indoor swimming
pool, fitness center,
business center and
complimentary Wi-Fi in the
guestrooms and public areas,
providing a best-in-class
guest experience.
The property upgrades
serve the strong corporate
demand in the Philadelphia area,
especially given its close
proximity to notable
corporate tenants including
Johnson & Johnson, Lockheed
Martin, Aetna and three
major corporate office
parks: Fort Washington Office Park,
Willow Grove Office Park and
Metroplex Corporate Center in Plymouth Meeting.
The local market is
also seeing significant
investment, including the
highly-anticipated reopening of the
Fort Washington Expo Center in 2016 and
the development of the
113,000 square-foot Life
Time Fitness facility
adjacent to the hotel.
About Laurus
Corporation
Laurus Corporation is a real
estate investment and
development company that
specializes in hotels and
resorts, office buildings,
multifamily and mixed-use
properties. With more
than $1 billion in
assets under management,
Laurus employs an
entrepreneurial investment
strategy designed to
consistently achieve
attractive risk-adjusted
returns by creating capital
appreciation opportunities through
repositioning, restructuring,
re-development and intensive
post acquisition asset
management. The company was
founded in 1999 by
Andres and Jean Paul Szita, and is
affiliated with Ethika
Investments, LLC, a real
estate private equity
firm. www.lauruscorporation.com
CONTACT:
Dania
Jimenez/Emily Heidt
Murphy O'Brien
Public
Relations
310-586-7153
djimenez@murphyobrien.com / eheidt@murphyobrien.com
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SOURCE Laurus Corporation