ANZ Hospitality, a Malvern hospitality company, has agreed to buy the 186-key Sheraton Bucks County Langhorne and plans to invest millions of dollars into its renovation, writes Emma Dooling for the Philadelphia Business Journal.

The sale is expected to close at the end of this month or early November, according to ANZ Hospitality founder and CEO Chirag Patel. The terms of the deal were not disclosed.

The hotel was put up for auction by Dallas-based Ashford Hospitality Trust this summer. The starting bid was $3.9 million.

The 15-story, 37-year-old Langhorne hotel has a heated indoor pool, a fitness center, and over 13,000 square feet of meeting and event space. The property is also home to University Grille, a full-service American restaurant, and hotel bar University Lounge.

The hotel is nicely positioned just across the street from Sesame Place theme park and Oxford Valley Mall, as well as several miles away from Parx Casino & Racetrack.

The future owner plans to invest between seven and 10 million into fully renovating the hotel. The project is expected to be finalized in the next two years.

Read more about ANZ Hospitality’s plans to buy the 186-room Sheraton Bucks County Langhorne and to invest millions into its renovation in the Philadelphia Business Journal.

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