Hospitality

BOSTON — Hersha Hospitality Trust has agreed to acquire the 80-room Bulfinch Hotel in Boston for $18.2 million, or $228,000 per hotel room. Hersha plans to invest $2.5 million in the hotel to upgrade guest rooms and improve the fitness and business amenities. The hotel is located in Boston's West End, within walking distance of Beacon Hill and the North End. The acquisition is expected to close later this month.

PHILADELPHIA — Homewood Suites by Hilton has opened an 11-story hotel in Philadelphia's University City neighborhood. Campus Realty Properties-V owns the 136-suite hotel, which is managed by Hersha Hospitality. Amenities include fully equipped kitchens with refrigerators and high-speed Internet access. The hotel also features an outdoor pool, fitness center and nearby walking trails. Located at 4109 Walnut St., the hotel is near the University of Pennsylvania campus.

ATLANTIC CITY, N.J. — Homewood Suites by Hilton has opened a new 120-suite hotel in Atlantic City. Homewood Suites by Hilton Atlantic City West /Egg Harbor Township includes studio, one- and two-bedroom suites. The hotel also includes an indoor pool, fitness center and business center. The property is located within minutes of the Hamilton Mall and the Atlantic City Boardwalk and Casinos. The Briad Group owns and manages the four-story hotel.

WAWARSING, N.Y. — Nevele Investors LLC has closed on the purchase of Nevele Grande Hotel and Country Club in Wawarsing. The investment group seeks to develop casino gaming at the facility, which must be approved by the state. If approved, the new owners anticipate a $500 million redevelopment to transform the site into a resort and casino. Nevele also plans to preserve the hotel's iconic elements, including the tower, entrance lobby and ice rink and reopen its professional golf course. The hotel, which has been closed since 2009, had slipped into receivership.