Four Seasons downsizes to Comcast tower
New hotel will be half previous size
JULY 2014 UPDATE: Landlord Liberty Propety Trust says the new Four Seasons at the soon-to-start, L.F. Driscoll-built Comcast tower will have 222 rooms, down from the current hotel's 364 rooms. (A little more detail in this SEC filing)
UPDATE: More on the next Comcast tower here; more on the hotel, and construction economics, here. WEDNESDAY: The new Four Seasons hotel planned for the proposed second Comcast high-rise tower will have around 200 rooms. By comparison the existing Four Seasons on Ben Franklin Parkway, which will close when the new building has its scheduled opening in 2017, has 364 rooms.
The Four Seasons has had a tough time competing in Philadelphia's slow-growing market; its room rates have lately ranked among the most affordable in the high-end Four Seasons chain due to lack of demand.
The old hotel's owners will try to put a new hotel in the space, possibly a JW Marriott. I'll have more in tomorrow's Philadelphia Inquirer.