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.

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