Finance & DevelopmentDevelopmentStudy Hotels Expanding to Philadelphia's University City

Study Hotels Expanding to Philadelphia’s University City

NEW YORK—Study Hotels, the unique lifestyle concept developed by Paul McGowan of Hospitality 3 to deliver high-quality, full-service lodging to university markets, is expanding to Philadelphia’s University City district.

Following the success of The Study at Yale, the brand’s first hotel located in New Haven, Conn., Hospitality 3 has signed an agreement to enter into a long-term ground lease with Drexel University. 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.

“We are delighted to have secured such an incredible site in the heart of University City and a short walk from 30th Street Station,” McGowan said. “Our goal is to create an urban retreat where visitors to campus, culture seekers, professors, students, families, and locals intersect to enjoy welcoming spaces and approachable hospitality. The Study at Yale has become an integral part of the Yale University community, and we look forward to playing a similar role in University City by embracing the positive spirit of the area’s thriving academic, research, and medical institutions.”

The 145,000-square-foot hotel will feature 212 rooms, approximately 7,000 square feet 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. The hotel is scheduled to open in 2016, according to McGowan.

“A hotel that meets the needs of an academic community is the natural next step in University City’s evolution, and the Study Hotels concept is a great fit,” said John A. Fry, president of Drexel University. “Creative partnerships are one of the keys to developing Drexel’s Innovation Neighborhood, and we’re proud to work with Hospitality 3.”

Hospitality 3 is pursuing other ground-up development and conversion opportunities in campus locations. “The response to our concept has been very positive and the timing seems right for expansion to other university markets,” McGowan said.

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