Philadelphia Hotel Converts Suites Into Apartments

PHILADELPHIA, PA— The Hotel Windsor on Benjamin Franklin Parkway here has converted 120 of its 318 hotel suites into unfurnished apartments. According to Don Minkler, president of Cafritz Interests-affiliate Potomac Hospitality Services (which manages the property), this facility changeover was driven by a drastic decrease in demand for hotel accommodations due to the downturn in the economy and the events of Sept. 11, along with the increase in the number of hotel rooms developed within the city over the past several years. As Minkler pointed out: “In 1997, there were approximately 7,000 hotel rooms in center-city Philadelphia; in 2001, that number had grown to more than 10,000.” With its new complement of studio apartments ranging in size from 450 square feet to 550 square feet, and one-bedroom apartments offering between 750 square feet to 900 square feet of living space, The Hotel Windsor now features a mix of hotel rooms, unfurnished apartments, and furnished corporate apartments.