Credit: Google Maps
The 161,600-square-foot, 186-room Sheraton Bucks County hotel is up for auction.
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The building and seven-acre property are being auctioned on August 7 through August 9 by RI Marketplace, according to a listing.
The 15-story hotel and convention hall along Oxford Valley Road in Falls Township is listed as having bids start at $3.9 million.
RI Marketplace said in marketing material that the hotel hit record room revenue in 2023 and showed a 14.5 percent increase in revenue generated per available room over the period before COVID-19.
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The building is among the tallest in Bucks County and was renovated in 2014 and 2015, with the option for food and drink operations to be revamped.
The hotel has been popular with families visiting Sesame Place and other attractions. Business travelers also often use the Marriott-affiliated hotel.
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The auction listing notes that the Lower Bucks County hotel market is strong and has already been outpacing last year by 4.7 percent. The listing added that there is a growing customer base tied to the growing biotechnology industry in the region.
The Sheraton agreement for the hotel ends on July 6, 2024, but a new owner could terminate the agreement before and rebrand the facility, according to the auction listing.
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