Joint venture acquires Holiday Inn Fort Washington, Pa., plans $19M update

A venture consisting of Haverford Hotel Partners and Haverford Properties bought the Holiday Inn Fort Washington, and has plans to invest an estimated $19 million redeveloping the property.

Bill McNamara, managing partner of Haverford Hotel Partners, and Charles Houder, principal of Haverford Properties, picked up the 230-room, full-service hotel on seven acres in Montgomery County from a Washington, D.C., investor who has owned the property since it was developed in 1975. Joe McCann, head of Optimum Hotel Brokerage, arranged the sale.

Terms of the transaction weren’t disclosed though total investment in redeveloping the property, including acquisition costs, stands at about $19 million.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.