PHILADELPHIA— Adam’s Mark Hotels has sold its 515-room hotel here to the Target Corp. The sale marks the end of Adam’s Mark’s 21-year presence in Philadelphia. The hotel will operate as Adam’s Mark until Jan. 30, at which time the building will be closed and delivered to the Target Corp., according to Adam’s Mark. Adam’s Mark said it currently does not have plans to develop another hotel in the area, but will continue to operate upscale hotels in seven states. Most of the properties are scheduled for extensive guestroom renovations in 2005, according to the company.
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