The TownePlace Suites Philadelphia Horsham was put up for auction on May 10 with a starting bid of $1.4 million. Property records show the hotel is currently owned by Highgate, a New York real estate investment and hospitality management company. The hotel recently underwent $2.4 million in renovations and is being offered unencumbered by debt and management. The TownePlace Suites Philadelphia Horsham is the second hotel in the region to be put up for auction this year. In April, the Courtyard by Marriott Philadelphia Coatesville/Exton at 600 Manor Road in Coatesville went to auction with a starting bid of $2.55 million. It is unclear if the property was sold. Online bidding for the property will take place on digital real estate platform Crexi starting on June 24.
Source: Philadelphia Business Journal; 5/15/2024