Sheraton Bucks County Langhorne Hotel Sold

MIDDLETOWN TOWNSHIP, PA —One of Bucks County's biggest hotels has been sold.

The Sheraton Bucks County Langhorne Hotel is currently under contract, according to RI Marketplace, which listed the hotel for auction.

The 15-story, 186-room hotel near Sesame Place —among the tallest buildings in Bucks County —and its 7.4 acres went up for auction on Aug. 7-9.

The Sheraton on Oxford Valley Road was the only premium branded, full-service hotel in the Philadelphia area submarket, allowing for an owner to maximize its food and beverage program and drive greater overall revenues while taking advantage of record, property-level performance in 2022., RI Marketplace said.

The Philadelphia Business Journal reported that the property was purchased by ANZ Hospitality, a property management company in Chester Springs.

ANZ Hospitality's founder and Chief Executive Chirag Patel said the sale of the hotel property is expected to be completed in late October or early November, the Journal reported.

The hotel will undergo renovations of several millions of dollars that are expected to take over two years, the Journal said.

The hotel was last renovated in 2014/2015.

RI Marketplace said that a comprehensive renovation will allow for a substantial lift in the average daily rate the hotel is able to achieve.

In 2022, the hotel hit record Room Revenue and NOI. This year, RI Marketplace said the hotel is on pace to beat that record at a 14.5 percent increase from pre-COVID times.

RI Marketplace said the revamped food and beverage operations along with the renovations will position the hotel to capture even more growth.

The hotel is located within a one-mile radius of the 10th largest mall in the state, spanning 1.3 million square feet. Oxford Valley Mall, serves as an anchor to a number of surrounding retail uses, collectively being the area’s retail epicenter.

Located in the heart of Bucks County, the hotel also benefits from various leisure attractions, including Sesame Place (which attracts more than 1 million visitors annually), Parx Casino & Racetrack, and local breweries, wineries, wedding venues, and golf courses.

The hotel's franchise agreement with Marriott ended in early July.