SLS Hotels are behind the project and the organization has a track record of investing in cities associated with high expenditure. Banner printing from Warminster could be used to help mark the opening of the new hotel in 2018. It appears that the group has faith in the economic potential of the local area and expert Andrew Benioff of the Llenrock Group has said:
“Our city is developing and changing into a city that has more expensive and sophisticated tastes and, quite frankly, our hotel offerings are rather drab and boring until now. Getting something interesting like a proposed Hudson or an SLS, I think, is wonderful.”
Arash Azarbarzin is the president of the hotel section of the SBE Entertainment Group. This group has control over SLS Hotels. Mr. Azarbarzin has commented that Philadelphia currently has a positive commercial atmosphere.
In particular, the city has been noticed by the New York Times as a travel destination. Further, the shopping offer of Philadelphia has been praised for its attributes. PKF Consulting has indicated that occupancy rates in local luxury hotels have been on the up in recent years.
The SLS Hotel could prove attractive to travelers because of a perception of exclusivity according to Jack Ferguson, the president of the Philadelphia Convention and Visitor’s Bureau. It will have about 150 rooms for its guests on completion.