Haverford Properties Plans Major Hotel Rehab
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Haverford Hotel Partners and Haverford Properties acquired the Holiday Inn Fort Washington, with plans to undertake a $19M redevelopment, a sum that also includes the acquisition cost. The Haverford-based buyer picked up the 230-room property from an investor who has owned it for 40 years. The hotel is on seven acres in Montgomery County, reports the Philadelphia Business Journal. Optimum Hotel Brokerage's Joe McCann arranged the sale. [PBJ]