Subject: Four Seasons to close for renovations in June
From: "Eric Schwerin" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Mon, 15 Dec 2014 17:03:48 -0500

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
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http://www.philly.com/philly/business/20141216_Four_Seasons_to_close_for_renovations_in_June.html

Four Seasons to close for renovations in June

Bob Fernandez, Inquirer Staff Writer

Last updated: Monday, December 15, 2014, 4:50 PM
Posted: Monday, December 15, 2014, 2:43 PM

In a hotel game of musical chairs, the Four Seasons Hotel at One Logan Square in Philadelphia will close in early June and undergo millions of dollars in renovations so it can reopen as a new luxury hotel in the fall, Host Hotels & Resorts Inc. said Monday.
The new brand was not disclosed Monday and was still under development, Host said. Host, the hotel's owner, has hired Sage Hospitality of Denver to manage the transition to a new luxury brand for the hotel.

Sage manages the Eilan Hotel Resort & Spa in San Antonio, Texas, the Nines in Portland, Ore., Oxford Hotel in Denver, and about 60 other hotels.

The Philadelphia hotel will be Sage's first here and part of its premier and lifestyle division.

The Four Seasons' days at One Logan Square on the Benjamin Franklin Parkway were numbered when Comcast Corp. announced in January that it would build a new skyscraper tower near its headquarters. As part of the $1.2 billion project, the Four Seasons would relocate to the top of the new Comcast tower.
The hotel's award-winning Fountain restaurant will stop serving dinner after Dec. 27, though breakfast and lunch will continue to be served.

Contractors poured the 10-foot-thick, 15 million-pound concrete foundation mat for the skyscraper Saturday. The tower is expected to open in early 2018.

Walter Isenberg, chief executive officer and president of Sage Hospitality, said that the Four Seasons in Philadelphia "has earned a spot as one of the city's most important hospitality assets. While honoring the property's past, we will make it relevant to today's traveler as a modern luxury hotel. We are excited to be joining the Philadelphia community and look forward to introducing a new restaurant concept from our Sage Restaurant Group."

Sage intends to retain as many Four Seasons employees as possible, Isenberg said.

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