Gulph Creek Development recently sold the Fairfield Inn & Suites Philadelphia Valley Forge/Great Valley hotel in Berwyn to Canon Hospitality Management for $13 million, writes Emma Dooling for the Philadelphia Business Journal.
The sale of the 7-year-old, 124-room hotel breaks down to $104,839 per key. The transaction was completed in mid-June.
Canon Hospitality Management operates seven additional properties, including the Marriott Courtyard Wilmington Downtown, which it purchased in November 2023.
The Berwyn Fairfield Inn & Suites opened in June 2018. In addition to guest rooms, it features a meeting space, fitness center, and an indoor pool.
In 2017, Clarke Blynn and Douglas McBrearty, co-owners of Gulf Creek Development, acquired the 2.27-acre vacant site at 1005 Westlakes Drive from Keystone for $1.3 million. They developed the hotel at the property and opened it the following summer.
Veterans of the local hospitality scene, Blynn and McBrearty founded Wayne-based Gulph Creek Hotels three decades ago and then developed several hotels under its umbrella, including Hampton Inn locations in Frazer, Plymouth Meeting, and adjacent to Philadelphia International Airport.
They sold the management side of the company in 2008 and retained ownership of Gulph Creek Development.
Read more about Fairfield Inn & Suites and the recent sale of the hotel’s Berwyn location in the Philadelphia Business Journal.
_____
