Synergy Hospitality assumed management of Hampton Inn by Hilton Philadelphia-International Airport following the recapitalization of the hotel by Versant Commercial Brokerage. The tenant-in-common (TIC) investors opted to replace their former hotel manager with Synergy Hospitality.
Hampton Inn by Hilton Philadelphia-International Airport is located 1.5 miles from the Philadelphia International Airport. For visitors looking for access to area attractions, the hotel is 20 minutes from Downtown Philadelphia and two miles from the Philadelphia Sports Complex. The hotel has 152 guestrooms and more than 1,200 square feet of meeting and event space.
Versant, who successfully recapitalized the hotel in 180 days, assisted the TIC investors by initiating the new financing, purchasing the TIC interests of those who needed to exit the investment and utilizing Internal Revenue Code Section 721 to roll up the TIC structure into an LLC on a tax-deferred basis.
The tenant-in-common investors also opted to replace their former asset manager and sponsor, and selected Clear Vista Management and Virtua Partners, respectively.