trending Market Intelligence /marketintelligence/en/news-insights/trending/pd-ckmmo2yn7icda6w8fsg2 content esgSubNav
In This List

RLJ Lodging Trust sells Philadelphia hotel for $96M


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

RLJ Lodging Trust sells Philadelphia hotel for $96M

RLJ Lodging Trust sold the 364-room Sheraton Philadelphia Society Hill Hotel in Philadelphia to an undisclosed buyer for $95.5 million.

The full-service-hotel-focused real estate investment trust said the sale price represents a roughly 5.6% cap rate on the hotel's 2017 net operating income, excluding planned CapEx.

RLJ plans to use the net proceeds to pay down its credit facility and for general corporate purposes.