Source: The Philadelphia Inquirer Jacob Adelman
Philadelphia- and Fort Lauderdale, Fla.-based Wurzak Hotel Group and an associated real estate investment firm have acquired the Hyatt Place King of Prussia hotel, the companies said in a release Wednesday.
Wurzak development director Jake Wurzak said the price was $13 million.
Wurzak and DoveHill Holdings will spend more than $1 million on significant upgrades to the lobby, bar, fitness center, and guest rooms of the 129-room hotel at 440 American Ave., north of the King of Prussia Mall, Wurzak said.
The six-year-old hotel’s previous owner was an affiliate of Hersha Hospitality Trust of Philadelphia and Harrisburg, according to records on Montgomery County’s website.