In 2015, Haverford partnered with Haverford Hotel Partners to acquire a struggling full-service Holiday Inn. The hotel was transformed into a high-performing limited-service Holiday Inn Express & Suites that better fit suburban market demand. One of the intentional by-products of our redevelopment activity was the creation of excess land. We took that excess land and combined it with additional out-parcels to create space for additional development and generated exceptional returns for our investors.

Haverford and Haverford Hotel Partners transformed the hotel into a limited-service product that better addressed market demand and is now one of the top performing hotels in the trade area. In addition, the property was subdivided to create two new parcels on which we developed and sold a brand new Audi dealership and built a free-standing full-service Starbucks with drive-through. We have identified opportunities for additional value-add development on the site, which further demonstrates our ability to unlock value for the benefit of our investors and the communities we serve.