LaSalle Hotel Properties: Pearl buys Embassy Suites in Center City

Pearl Properties has purchased the Embassy Suites at 1776 Benjamin Franklin Parkway in Philadelphia. The price wasn't disclosed. The seller was LaSalle Hotel Properties, which bought it in 2010 for $79 million and, at the time, also bought the Westin Philadelphia for $145 million. It sold the Westin to Hersha Hospitality Trust in 2017. The Embassy Suites has 288 rooms, 5,000 square feet of meeting space and a 150-space garage. Pearl plans to market the hotel property to business travelers,...