Fresh STR rules come into effect in Philadelphia
US: Fresh short-term rental regulations came into effect in Philadelphia, the sixth largest city in the United States and located in the western state of Pennsylvania, on 1 January.
STR: Short-term rentals outperform hotels in three US markets
US: Short-term rentals in three key US cities showed substantial month-to-month performance growth and posted higher occupancy than hotels in the market, according to October 2020 data from data benchmarking and analytics provider STR. Building on STR’s hotel performance database, Philadelphia, Nashville and Miami are the first three US markets where the company has expanded […]
Philadelphia master lease development up for sale
US: A development site in Philadelphia’s Rittenhouse Square neighbourhood that is master leased to short-term rental / aparthotel firm Sonder is up for sale. The site at 1620 Sansom Street is owned by New York City-based Bridge Funding and is being marketed for sale by Rittenhouse Realty Advisors (RRA). The property is currently mixed-use with […]
Sonder to take over four properties in Philadelphia
US: Short-term rental operator Sonder is to take over four Philadelphia properties that are being converted into apartments, with plans to offer furnished rooms to short-stay accommodation seeking travellers. Sonder says it will take under lease an historic Witherspoon Building office property, a former Frank P. Heid & Co. hat factory, and two smaller buildings in Old […]