BETHESDA, MD—Host Hotels & Resorts, Inc. has selected Sage Hospitality to manage the Four Seasons Hotel Philadelphia starting in June 2015, as part of the company’s efforts to reposition the property to a third-party managed independent luxury hotel.
Extensive, multimillion-dollar renovations—including numerous value-enhancement projects—are expected to begin at the time of the management transition in June 2015. The hotel will be closed during the renovation period with a planned reopening in the fall of 2015.
The hotel is located near the city’s financial and commercial districts, and is surrounded by museums, shopping and history on the culture hub of the Benjamin Franklin Parkway.
“We are very excited about this value-enhancement opportunity to redevelop this landmark hotel. Sage’s wealth of experience with lifestyle hotels, combined with their highly successful and profitable restaurant division will make a critical contribution to the redevelopment of this asset. We expect that the transformation will drive meaningful value at this hotel,” said Minaz B. Abji, Host’s EVP/asset management.