SSN Hotels Acquires 263-Room Embassy Suites Philadelphia Airport From Ashford Hospitality Trust For $26M

The property involved in the transaction is the Embassy Suites Philadelphia Airport located at 9000 Bartram Avenue, Philadelphia, PA. The asset type is a hotel, consisting of 263 keys, and it was sold for a price of $26,000,000, which breaks down to approximately $98,859 per room.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $26,000,000
• Buyer: SSN Hotels
• Seller: Ashford Hospitality Trust
• Broker: JLL
• Keys: 263
• Price Per Key: $98,859

The sale was arranged by JLL's Hotels & Hospitality group, which facilitated the transaction between the seller, Ashford Hospitality Trust, and the buyer, SSN Hotels. Notably, this transaction resulted in a $24.6 million paydown on the property's securitized mortgage loan, which is backed by a shrinking pool of hotel assets and has a maturity date in July 2027.