NEW YORK—Hospitality 3 has signed an agreement to enter into a long-term ground lease with Drexel University. This follows the opening of The Study at Yale, the brand’s first hotel in New Haven, CT.
The Study at University City, to be built on the corner of 33rd and Chestnut Streets in West Philadelphia, will be developed and owned by Hospitality 3 and operated by its subsidiary, Study Hotels. The hotel will offer 212 rooms, approximately 7,000 sq. ft. of banquet/meeting space, a 105-seat corner restaurant and bar and a state-of-the-art fitness center.
Hospitality 3 collaborated with Philadelphia-based architects DIGSAU to design the hotel with a focus on engaging its surroundings while capturing the character of the area and personality of the neighboring institutions, according to the company.
The hotel is scheduled to open in 2016.